Former FBI director Comey testifies to the Senate Intelligence Committee starting at 10am ET today and will be a key event in today’s US session suggests the research team at RBC Capital Markets.

Key notes

US Dollar moves higher beyond 97.00 ahead of Comey

The greenback, in terms of the US Dollar Index (DXY), has quickly abandoned the area of session lows and is now testing highs in the 97.00 neighbourhood.

Former FBI Director Comey's prepared testimony: Trump said "I need and expect loyalty"

According to the document, U.S. President Donald Trump told Comey during a dinner in January: "I need loyalty, I expect loyalty".

About James B. Comey

On September 4, 2013, James B. Comey was sworn in as the seventh Director of the FBI.

A Yonkers, New York native, James Comey graduated from the College of William & Mary and the University of Chicago Law School. Following law school, Comey served as an assistant United States attorney for both the Southern District of New York and the Eastern District of Virginia. Comey returned to New York to become the U.S. attorney for the Southern District of New York. In 2003, he became the deputy attorney general at the Department of Justice (DOJ).

Comey left DOJ in 2005 to serve as general counsel and senior vice president at defense contractor Lockheed Martin. Five years later, he joined Bridgewater Associates, a Connecticut-based investment fund, as its general counsel.