US Dollar holds above the lowest level in 3 weeks and eyes on Janet Yellen's remarks

The US dollar rose on Monday at the start of the week against a basket of currencies, to hold above the lowest level in three weeks which registered on Friday after disappointing data about the new US jobs , which reduced the stakes of the near of the Federal Reserve to raise interest rates, and in order re-evaluation of those bets investors awaited later in the daystatements by - Janet Yellen - President of the Federal reserve.

By the time 12:15 GMT, the dollar index is trading around the level of 94.15 points from the opening level of 93.92 points, and recorded the highest level of 94.26 points and 93.89 points as the lowest level.

Index closed trading on Friday, down by 1.7 percent, the biggest daily loss since February 3 , marking the lowest level in three weeks 93.85 points, throughout the trading last week, the index lost 1.9 percent, the biggest weekly loss since April last and first weekly loss in five weeks , due to the acceleration of covoring a purchase of the US currency operations after the receding chances of raising US interest rates during the third quarter of this year, especially after the disappointing jobs data which recorded the weakest pace in five years.

The US Labor Department said on Friday that non-farm jobs recorded 38 thousand jobs in May, the lowest pace since May 2011, jobs in April adjusted to 123 thousand from 160 thousand, the unemployment rate fell to the level of 4.7 percent, the lowest rate since 2007 , and experts had predicted that the US economy adds jobs by 159 thousand jobs last month and that the unemployment rate fall to 4.9 percent.

These data reduced the stakes of traders that the Federal Reserve will increase US interest rates to 4 percent in June meeting of 22 percent, and to 27 percent in the July meeting of 55 percent.

And to re-evaluate those bets; investors by 16:30 GMT, awaiting Janet Yellen statements President of the Federal Reserve, which speaks in the state of Philadelphia about the latest developments of the US economy and the future of interest rates increase after a decline in the pace of new jobs in the country.