The dollar index rushing towards 103, the highest level in 5 years

At 12:58 GMT, the US dollar index rose to 103.05, its highest level since January 2017.

The dollar’s ​​rise comes with the euro also falling to its lowest level in 5 years, due to the difference in monetary policy between the two regions, while the market is waiting for the Fed to raise interest rates by 50 basis points next May, the market speculates with doubt that the European Central will raise the interest rate for the first time in next July.

The rise in the dollar index comes against the backdrop of increasing geopolitical concerns, and the negative performance of US stocks at the present time.

The index is awaiting important inflation data as measured by the personal consumption expenditures index, the Federal Reserve’s inflation index, on Friday.