Right ahead of Federal Reserve Chairman Ben S. Bernanke's testimony on how the central bank is planning on ending its policy of keeping near-zero interest rates, the US Dollar managed to rise against the 16-nation Euro.

Also, the American currency managed to rise against as many as 13 out of its 16 major counterparts, before the US reports this week that economists have said that the trade deficit has now narrowed and retail sales have managed to rebound, thereby boosting the appeal of the assets possessed by the nation.

"Demand for the dollar will increase if Bernanke’s remarks indicate the U. S. is heading for exit”, said Toshiya Yamauchi, manager of currency margin trading at Ueda Harlow Ltd., Tokyo.

As of 12:01 PM in Tokyo, the US Dollar managed to rise to $1.3766 a Euro, from the value of $1.3797 recorded in New York yesterday. The Dollar traded at 89.77 Yen from yesterday's 89.66 Yen.