The US dollar witnessed an increase today, Wednesday, against a basket of global currencies, expanding its gains for the second day in a row, recording the highest level in a week, as the dollar index rose by approximately 0.4% at the level (104.24), continuing the rise from Tuesday, when it rose by 0.1%. At levels of 103.43 points.

This comes before the release of economic growth data in the United States during the fourth quarter of last year, which will give clearer information about the existing possibilities about the Federal Reserve’s interest rates.

Today, it is expected that GDP data will be released in the United States during the fourth quarter of last year, which shows the extent of flexibility enjoyed by the largest economy in the world, as it is expected to grow at a rate of 3.3%, after the American economy recorded a growth rate of 4.9% in the quarter. Third, in addition to comments from Federal Reserve officials.

Note that the US dollar had started its week with losses towards testing the lowest level in three weeks, under the pressure of the slowdown in the yield on ten-year US Treasury bonds, but it returned to the levels of 104 from which it had fallen during the week.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.