Dollar edges up in Asia ahead of Bernanke testimony

0 Comments | AFP, January, 2008

TOKYO (AFP) — The dollar rebounded from recent lows Thursday as upcoming testimony by the Federal Reserve chief and better than expected data offered a glimmer of hope on the troubled US economy, dealers said.

The euro was hit after a European Central Bank (ECB) official warned that growth in the 15-nation eurozone could be slower than expected, fanning anticipation that Europe too could see lower interest rates.

The greenback edged up to 106.98 yen in Tokyo afternoon trade from 106.71 in New York late Wednesday, recovering from its two-and-a-half-year low of 105.69 the previous day.

The single European currency fell to 1.4657 dollars from 1.4803 and to 156.83 yen from 157.72.

Market players said they would carefully monitor US Federal Reserve...