December 1, 2017 / 4:42 PM / 9 months ago

FOREX-Dollar slumps on report ex-adviser Flynn to testify against Trump

NEW YORK, Dec 1 (Reuters) - The dollar reversed course to drop sharply against a basket of currencies on Friday, after an ABC News report that Michael Flynn, former national security adviser to President Donald Trump, is prepared to testify that Trump directed him to make contact with Russians when he was a presidential candidate.

Reuters has not verified the ABC News report, which cited a Flynn confidant.

Flynn was charged with lying to the FBI, according to court documents released on Friday, in an escalation of an investigation into alleged ties to Russia that has cast a cloud over Trump’s administration.

The dollar index, which tracks the greenback against six major currencies, was down 0.44 percent to 92.641. The index rose as high as 93.248, earlier in the session. (Reporting by Saqib Iqbal Ahmed Editing by Chizu Nomiyama)

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