USD rose on Monday against a basket of global currencies to consolidate above the two-week low recorded earlier in the US market, a day before the Federal Reserve’s first meeting in 2019, which is expected to provide strong evidence on The pace of raising US interest rates during the year.

USD index rose 0.2% to 95.58 points, the day’s opening level at 95.39 points, and the lowest level at 95.33 points, the lowest since January 15.

The index lost 0.8% on Friday, the third loss in four days, the biggest daily loss this year and the biggest daily loss since September 20, as USD accelerated after the announcement of the re-opening of the federal government after a month of closure .

The index lost more than 0.5% over last week’s trading, resuming losses that were temporarily halted last week for the first time in five weeks.

USD fell during the period under pressure to continue the data that indicate the decline of the growth of the largest economy in the fourth quarter of last year, in conjunction with the high risks surrounding the US economy, which reduced the possibility of the Federal Reserve to raise interest rates during the year.

The Federal Reserve will start its first meeting in 2019 to discuss the appropriate monetary policy for US economic developments. All expectations are for interest rates to remain unchanged at 2.50%, but the meeting is expected to produce new evidence on the future of the interest rate hike this year.