Dollar in the Dumps: Greenback Falls to Seven-Month Low

The U.S. dollar index, a measure of the currency's strength against six of its global peers, was marked 0.2% lower at 96.61 in early European trading as investors continued to react to softer data from the world's biggest economy and positioned themselves ahead of potential testimony Thursday from former FBI director James Comey.

Politics also played a significant part in the two-day fall witnessed in global crude prices, which extended declines Tuesday amid the ongoing Saudi Arabia-led isolation of Qatar.

This article was written by a staff member of TheStreet.