The general index of the US dollar is trading at an increase of about 0.30% in the middle of today’s session, Wednesday, May 17th, at 102.79 levels, an increase for the second session in a row, to trade at its highest level since last March, coinciding with the absence of economic data today.

The US dollar has been receiving support since the beginning of the week from the market’s high expectations of a stronger tightening of the US Federal Reserve in the next mid-June meeting, after the statements of US Federal Reserve members, in addition to the rise in safe-haven currencies and assets, with rising concerns about the US debt ceiling.

And the statements of the US Federal Reserve members since the middle of the week came in support of the continued tightening of monetary policy, and they were ignorant of their statements to reduce interest rates during the current year, as the President of the Federal Reserve in Cleveland, Loretta Mester, said yesterday, Tuesday, that, given the current data and the complexity of inflation, she sees the possibility of an additional step to raise interest rates, while Austin Golsby showed The head of the Federal Reserve in Chicago said that it is too early to talk about cutting interest rates and that it requires more economic data.

Futures forecasts using CME’s FEDWatch tool now see interest rates raised by 25 basis points at the June meeting, around 27%, compared to less than 10% at the beginning of the week.

On the other hand, the markets are watching developments in the situation regarding the US debt ceiling, after US Treasury Secretary Janet Yellen warned of the danger of default and the collapse of global markets. Negotiations with the Republicans to try to reach an agreement, which supported the rise in safe assets, led by the US dollar.

On the other hand, the euro is trading at 1.0824 levels against the US dollar, its lowest level in a month, affected by the strength of the US dollar and ignoring statements from members of the European Central Bank supporting stronger tightening, as a member of the European Central Bank and Governor of the Bank of Austria Holzmann indicated that he supports a faster increase in interest rates and greater than 25 basis points to deal with inflation.

The consumer price index, which measures inflation in the eurozone, reached 7% in April, up from 6.9% in March, according to figures issued by the European Union’s statistical office Eurostat this morning, while the main index excluding food and energy prices rose to 5.6%, compared to 5.7% in March. March .

The Japanese yen continues to decline and is trading at its lowest level against the US dollar in two weeks at 137.17 levels, after this. Government data released this morning showed that the Japanese economy, the third largest in the world, grew by 0.4% in the first quarter, supported by the recovery of the tourism sector after the hike Border epidemiological restrictions, on an annual basis, the Japanese economy grew by 1.6%.

The pound sterling, in turn, has been under pressure since the beginning of the week, trading at 1.2455 levels, after disappointing data from the labor market yesterday, Tuesday, while Bank Governor Andrew Bailey indicated in his statements today that there are indications that inflation in the United Kingdom may decline strongly in April, which raised the ceiling of market expectations that it will remain Bank on interest rates unchanged at its next meeting.