US dollar fell against a basket of major currencies today, to resume its downtrend, after it was temporarily halted yesterday, as President Trump continued to put pressure on the Fed for more deep rate cuts, after the Fed cut the interest rate for the second time this year, while it trimmed the odds for continuing the easing of monetary policy.

The dollar index fell by 0.3% to 98.25 points, from the opening of 98.57, with an intraday high of 98.62.

Yesterday, the dollar rose by 0.35%, after the closure of the Fed meeting while it shed 0.45% in the previous day.

President Trump said in a tweet yesterday that Powell and the Fed "No guts, no sense, no vision".

Which came after the Fed unveiled its decision for the second rate cut this year, and didn't respond to Trump's demands to cut it more sharply to boost US corporate's global competitiveness.

The US Federal Reserve cut interest rates yesterday by 25 basis points, which is the second rate cut since 2008, to protect the US economic growth.

The vote for the cut was 7 vs. 3 members of the FOMC, which resulted in lowering the lending rate to 1.75% from 2.00%.

While the US Federal Reserve Chairman Jerome Powell said that the US economy and the labor are still strong, and the cuts are measures to protect the economy, and stated that any decisions to cut or raise interest rates will be based on the economic situation.

European stocks opened higher today, rising for the second straight session the US Fed cut the interest rates for the second time this year, to preserve the US economic growth path, the bank also stressed the strength of the US economy and labor market.

As of 11:35 GMT, Stoxx Europe 600 Index rose by 0.4%, as it closed yesterday higher by 0.1%, its second daily gain as the market anticipated the US Fed rate decision.

The index rose today, to extend its gains for the second straight session, as most of the European markets and sectors rose.

The banking sector jumped by more than 1% as the US Fed presented weak evidence on its approach for the US rates during this year.

Yesterday, the Fed cut the lending rate to 1.75% from 2.00%which is the second rate cut since 2008 as expected to protect the US economic growth.

The US central bank stated that the cut is due to growing risks and weak inflation.

S&P 500 futures fell by 0.4%, as it closed higher by less than 0.1% yesterday on Wall Street.

Euro Stoxx 50 index rose by 0.5%, in France the CAC 40 rose by 0.5%, and Germany's DAX rose by 0.25%.

In London, the FTSE 100 rose by 0.75% to top the European gaining list, as the IG Group share rose by 9%, after the group announced that it expects revenue growth in 2020.

The Bank of England released at 11:00 GMT, the summary of the Monetary Policy Committee's vote at the end of its September meeting, which showed that all members voted as expected to maintain the interest rates unchanged at 0.75%, and also voted unanimously  as expected to keep the asset purchase program at £435 billion per month.

The Bank of England unveiled at 11:00 GMT, the British Asset Purchase Programme at the end of its September meeting, as the bank kept the program unchanged at £435 billion, in line with forecasts and the previous value.