USD fell on the European market on Tuesday against a basket of global currencies to continue its losses for a third straight day as US long-term bond yields fell, ahead of major economic data on consumer spending levels in the United States. Federal Reserve.

USD index fell by 0.1% to 12.00 GMT, trading at 94.00 points, the opening level at 94.08 points, the highest at 94.24 points and the lowest at 93.96 points.

USD index ended yesterday’s trading down 0.35%, the second consecutive daily loss, with notable activity for selling the US currency against a basket of currencies.

US 10-year bond yields fell three basis points to 2.94%, amid expectations the Federal Reserve will keep interest rates steady at 2.0% at a meeting later today.

Later in the day, investors will be looking for important data from the US on consumer spending levels, which account for more than 70% of GDP. The US economy grew during the second quarter of this year with the highest growth rate in four years.

The Personal Spending Index for June is expected to rise by 0.4% from a rise of 0.2% in May, and the Personal Income Index is expected to rise by 0.4% the same as the previous reading.

Federal Reserve is set to begin its policy meeting on Wednesday to discuss monetary policy appropriate to developments in the US economy, with decisions to be made on Wednesday, amid the possibility that interest rates will remain unchanged at 2.0 percent, having been raised twice earlier this year.

Investors are looking through the monetary policy statement for new evidence about raising interest rates two more times this year, with the prospect of accelerating US interest rates accelerated after the Fed’s midterm testimony to US Federal Reserve Chairman Jerome Powell.

Powell said he sees the United States on a path of rapid economic growth for many years and has reduced the risks to the world’s largest economy from the recent global trade conflict.