The US dollar is ticking down on Friday.
The dollar is sliding.
The US dollar index is down by 0.5% at 97.43 as of 7:37 a.m. ET.
The recent dollar sell-off has been in response to yields, a Morgan Stanley FX team led by Hans W. Redeker argued in a note to clients. Nevertheless, markets likely will monitor the ongoing political turmoil in Washington.
"In the near term, focus will be on former FBI director Comey’s testimony, expected next Wednesday," they wrote. "USD should remain under pressure ahead of the event as markets price in an unfavorable outcome."
"Should Comey not bring any new information to the table, then USD is likely to rally," they added. "However, an outcome that would lead markets to reduce the probability of fiscal reform could weigh on USD."
Separately, the Baker Hughes oil-rig count will be out at 1 p.m. ET.
As for the rest of the world, here's the scoreboard as of 7:43 a.m. ET: