Mubasher: The US Dollar surged by more than 6% since mid-April against major currencies, before shortly sliding in front of the Euro.

The rising USD is supported by the Federal Reserve policy of gradually raising interest rates.

Seemingly, the rally of the dollar is expected to continue.

“There's nothing I could possibly imagine that could stop the Fed in the next couple of weeks from going again, and there's nothing I could possibly imagine that's going to stop the ECB (European Central Bank) from doing nothing at its meetings,” an HSBC expert told CNBC on Tuesday.

“So there you've got the diversity of monetary policy: one of the engines of growth powering ahead, and the other spluttering along the tracks and needing a push by the policymakers,” he added.