US dollar rebounds ahead of Comey testimony

The US dollar increased against most other major currencies on Wednesday as traders eyed former FBI Director James Comey's much-anticipated testimony.

Comey is slated to testify Thursday in open hearing on Capitol Hill, the first time since he was suddenly fired by US President Donald Trump in early May, Xinhua reported.

Analysts said investors were in a cautious mood when they wait for Comey's appearance, as he is expected to testify whether Trump asked him to shut down an FBI probe into former national security adviser Michael Flynn.

Overseas, traders also kept a close eye on the general election in the United Kingdom set for Thursday.

Meanwhile, the European Central Bank will release its latest monetary policy decision on Thursday, with market widely expecting the central bank to leave interest rates unchanged.

The dollar index, which measures the greenback against six major peers, increased 0.10 per cent at 96.736 in late trading.

In late New York trading, the euro fell to $1.1257 from $1.1269 in the previous session, and the British pound rose to $1.2951 from $1.2885 in the previous session. The Australian dollar climbed to $0.7545 from 0.7508 dollar.

The US dollar bought 109.82 Japanese yen, higher than 109.56 yen of the previous session. The US dollar gained to 0.9652 Swiss franc from 0.9628 Swiss franc, and it moved up to 1.3517 Canadian dollars from 1.3457 Canadian dollars.

--IANS

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