The dollar reversed early gains Wednesday to trade lower against the euro and yen after Federal Reserve Chairwoman Janet Yellen delivered testimony about the state of the economy and monetary policy before the House Financial Services Committee.
The dollar traded at ¥113.60 late Wednesday in New York after touching a 15-month low at ¥113.35. By comparison, the dollar traded at ¥114.79 late Tuesday. The euro traded at $1.1269, compared with $1.1289 late Tuesday. The pound traded at $1.4530, compared with $1.4461 Tuesday.
The ICE U.S. dollar index a measure of the dollar’s strength against a basket of six rival currencies, was down 0.1% at 95,9580.