USD fell on the European market on Monday against a basket of global currencies to continue its losses for the second day in a row, the lowest level in two weeks, with a marked activity of selling the US currency after some members of the Federal Reserve warned about the growth of the global economy and its potential negative impact on the path of growth The world’s largest economy.

USD index was down 0.1% at 11:55 GMT, trading at 96.22 points, the opening level at 96.32 points, the highest at 96.42 points and the lowest at 96.17, the lowest since November 8.

The index ended Friday’s trading down 0.7%, the third loss in four days, as the US currency accelerated against a basket of currencies.

Over the past week, the index lost 0.5%, the first weekly loss in the last five weeks, with a major profit taking activity from a 17-month high of 97.51 points recorded earlier in the week.

Several members of the Federal Reserve expressed caution about the growth of the global economy, especially in Europe and China, and its potential negative impact on the course of US economic growth, prompting investors to reassess the pace of US interest rate hikes in the near future.

US interest rates are close to the central bank’s benchmark rate of interest rates and warned of a slowdown in global economic growth, said Richard Clarida, saying this would be relevant to the US economy’s outlook.

“He sees a slowdown in economic growth in Europe and China,” said Robert Kaplan, chairman of the Federal Reserve in Dallas, in an interview with Fox Business.

The broad rally in the US currency this year supported the Federal Reserve’s tightening monetary policy against the backdrop of strong economic growth in the country. Interest rates are expected to rise in December for the fourth time this year. The central bank expects to raise interest rates two more times in 2019.