The US dollar continues to decline ahead of growth data and Janet Yellen's remarks

The US dollar fell during the European market on Friday against a basket of currencies, extending its decline for the second day in a row, as investors refrain from building new purchasing positions for the US currency ahead of US economic growth data for the second quarter and the statements of Janet Yellen president of the US, "the Central Council of the Federal Reserve." which is expected to provide new evidence concerning the future of raising US interest rates during the current year.

By the time 11:20 GMT, the dollar index is trading around the level of 94.60 points from the opening level of 94.66 points, and recorded the highest level of 94.67 points and 94.49 points as the lowest level.

Index closed trading yesterday, down less than 0.1 percent, the second loss in three days, the US currency fell despite the positive data released yesterday from Washington, which showed higher than expected durable goods orders during July and lower jobless claims for the week ending August 20 .

By 12:30 GMT the second reading of GDP during the second quarter will be issued, and the expected growth rate of 1.1% from 1.2% growth rate of the initial reading, and US economic growth recorded the rate of 0.8% in the first quarter.

And later the final reading of the University of Michigan index to measure consumer confidence in August will be released, and the expected is 90.6 compared to the 90.4 initial reading.

And Janet Yellen speaks by 14:00 GMT at the annual Jackson Hole conference, which includes most of the governors of the world's central banks, and Yellen is expected to provide new evidence concerning the future of US monetary policy and raising interest rates.

This week, the stakes of increasing US interest rates this year rose to 57 percent from 51 percent, especially after Stanley Fischer's statement, Deputy of the Federal Reserve in which he confirmed that raising interest rates during the current year is still under consideration.