WSJ: Dollar Firms After Strong ISM Data, As Bernanke Testimony Starts
NEW YORK (Dow Jones)--The dollar rose Tuesday, as Congressional testimony from Federal Reserve chairman Ben Bernanke got underway, and a closely-watched gauge of U.S. manufacturing beat expectations.
The Fed Chairman is delivering prepared remarks about the economy's outlook, and will field questions from lawmakers. Meanwhile, the Institute for Supply Management reported that its index of U.S. manufacturing hit its highest level in nearly seven years.
The euro slipped to $1.3807 against the dollar, from about $1.3838 shortly before the manufacturing data's release and the publication of Bernanke's prepared remarks.
-By Javier E. David, Dow Jones Newswires; 212-416-4564; javier.david@dowjones.com
