USD rose on Wednesday against a basket of world currencies to continue its gains for a second consecutive day as investors shrugged off current trade tensions between United States and China and focused on the key aspects of widening the gap between US monetary policy and its global counterparts in Europe and Britain, Investors are looking forward to the comments by Federal Reserve Chairman Jerome Powell, seeking new evidence that will accelerate the tightening of US monetary policy this year.

Dollar index rose more than 0.2% to 12: 00 GMT, trading at 94.85 points, the opening level of 94.64 points, the highest at 94.97 points and the lowest at 94.63.

The index ended yesterday’s trading up by 0.3%, the first gain in three days, as investors shifted to the fundamentals, in conjunction with the limited impact of global trade tensions on the foreign exchange market.

EURUSD chart

USD index rose 1.0% last week, with renewed US currency purchases against a basket of currencies, especially after the Federal Reserve increased interest rates for the second time this year, raising the expectations of the interest rate cycle in 2018 to increase four times from the increase of three times in his expectations Previous.

Investors are focusing on the fundamental aspects of widening the gap between the course of US monetary policy and its global counterparts in Europe and Britain, especially after the European Central Bank has confirmed that the rate hike will not take place before the summer of 2019. At the same time, During the year, especially in light of expectations of the growth of the royal economy at the lowest pace since 2009.

Investors are looking forward to comments by Federal Reserve Chairman Jerome Powell at the Central Bank Forum currently held in Portugal. According to the World Economic Agenda, at 13:30 GMT, Powell is scheduled to include new evidence of the possibility of accelerating policy tightening. American cash during the current year.