USD fell on Wednesday against a basket of global currencies to resume its losses, which were suspended yesterday, approaching again from touching the lowest level in two weeks, this comes ahead of the release of important data from United States on the labor market this month, Federal Reserve at the end of its first monetary policy meeting in 2019.

USD index fell 0.1% to 95.38 points, where the opening level of trading today at 95.48 points, the highest level at 95.56 points.

Yesterday, the index rose by less than 0.1%, the first gain in three days, within the rebounds after recording earlier in the trading session the lowest level in two weeks at 95.29 points.

Chinese Vice Premier Liu Hu arrived in Washington on Wednesday for talks with US officials over two days. US Treasury Secretary Stephen Manuchen said on Tuesday he expected the world’s two largest economies to make tremendous progress toward a comprehensive trade deal. 

Later in the day, investors were looking for important data from the US on the labor market in the country as private sector payrolls were released in January, and US monetary policymakers are counting on the strength of the labor market to keep raising interest rates.

Private sector jobs are expected to rise by 179,000 in January from 179,000 in December.

The Federal Reserve will conclude its first monetary policy meeting in 2019 amid full probability of a steady interest rate unchanged at 2.50%, the US interest rate decision and the monetary policy statement will be released by 19:00 GMT. Jerome Powell, Federal Reserve by 19:30 GMT.

Investors are focusing on the monetary policy statement and Powell’s comments, looking for new evidence for the future of raising interest rates this year, especially as Federal Reserve members, led by Jerome Powell, have become more cautious about the future of interest rates because of mounting signs of a global economic slowdown.