The dollar fell against most of the major currencies during trading today, Tuesday, and maintained its losses, with the attention shifted to the US Central Bank to reveal its decision regarding monetary policy.
The Fed meeting will start later today, Tuesday, and continue until Wednesday, after which the central bank will announce the interest rate decision, amid expectations that it will be fixed near zero without change, and then this will be followed by a press conference by Central Bank President Jerome Powell.
In addition, this week, the business results of companies, most notably Apple, Facebook and Amazon.com will be released.
Yesterday, Tesla announced its quarterly results and achieved a strong jump in revenues and profits in the second quarter, supported by sales of electric vehicles.
Economic data released today showed that the “Conference Board” index of US consumer confidence rose to 129.1 points in July from 128.9 points in June, while analysts’ expectations indicated a decline in the index to 123.9 points.
In terms of trading, the dollar index – against a basket of major currencies – by 17:44 GMT decreased by 0.3% to 92.3 points, and recorded the highest level at 92.8 points and the lowest level at 92.3 points.