Dollar deepns losses ahead of Federal Reserve meeting

The US dollar fell against a basket of global currencies on Tuesday, to deepen its losses for the second straight day, as investors avoided high-yielding risky assets, as the US date for imposing tariffs on Chinese imports is approaching without reaching any tangible results in the trade talks to complete the phase one of the trade deal, and ahead of the US Fed monetary policy meeting, which will be the last during this year. 

The dollar index fell 0.15% to 97.50 points, after it opened at 97.65, an hit an intraday high of 97.66.

The index lost 0.1% yesterday, to resume its losses, after they were temporarily paused on Friday on a strong US jobs data, to hit again the seventh loss in the last 8 days.

 Market's fears over the US-China trade war were renewed as the US date for imposing tariffs on Chinese imports worth $156 billion is approaching without reaching any tangible results in the trade talks to complete the phase one of the trade deal.

The US secretary of agriculture Sonny Perdue said on Tuesday, " President Trump wants to see progress ahead of the deadline coming up on the Dec.15 for another tranche of tariffs."

The last Federal Reserve's meeting  during 2019 will launch later today, and the decisions will be unveiled tomorrow, amid increased market's bets for the Fed to hold interest rates unchanged at 1.75%, and settle for the three rate cuts during this year.

Investors are also anticipating the monetary policy statement and the remarks of Fed Chair Jerome Powell, for insight o the future of interest rates in the next year.