Investing.com - The dollar was higher against other major currencies on Wednesday, as comments by Federal Reserve Chair Janet Yellen suggesting a near-term rate hike lent broad support to the greenback.
EUR/USD slipped 0.23% to 1.0552, the lowest since January 11.
The dollar strengthened broadly after Ms. Yellen told the U.S. Senate Banking Committee on Tuesday that waiting too long to raise interest rates would be "unwise," given the rise in inflation and economic growth.
However, she also expressed caution amid sustained uncertainty over economic policies under President Donald Trump's administration.
Meanwhile, the single currency remained under pressure amid concerns over Greece’s bailout negotiations and the possibility of a Brexit or Trump-style shock result in France’s upcoming presidential election.
Elsewhere, GBP/USD declined 0.30% to a one-week low of 1.2429.
The Office for National Statistics earlier reported that the U.K. unemployment rate remained steady at an 11-year low of 4.8% in the three months to December.
The number of people claiming unemployment benefits fell by 42,400 to 787,400 in January compared with a revised fall of 20,500 in December.
The ONS also said earnings excluding bonuses rose by 2.6% in the last quarter, down from 2.7% a month ago. Including bonuses, earnings also rose by 2.6%, down from 2.8%.
USD/JPY rose 0.25% to 114.54, the highest since January 30, while USD/CHF added 0.24% to trade at 1.0086.
The Australian and New Zealand dollars were higher, with AUD/USD up 0.21% at 0.7677 and with NZD/USD edging 0.10% higher to 0.7176.
Meanwhile, USD/CAD was little changed at 1.3082, off the previous session’s one-week trough of 1.3022.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.27% at 101.47, the highest since January 19.