The U.S. dollar rose against most other major currencies on Wednesday, after the U.S. Department of Commerce reported that the country's trade deficit had unexpectedly widened to $40.2 billion. The greenback was up against the euro and pound, with EUR/USD shedding 0.41% to hit 1.3740 and GBP/USD shedding 0.68% to hit 1.5614. It also rose against the Swiss franc, with USD/CHF gaining 0.29% to hit 1.0668. In addition, the U.S. dollar rose against its Australian, Canadian and Kiwi counterparts: AUD/USD dropped 0.39% to hit 0.8754, USD/CAD rose 0.14% to hit 1.0671 and NZD/USD fell 0.42% to reach 0.6933. But the greenback was down against the yen, with USD/JPY shedding 0.21% to reach 89.5. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.27%. Also Wednesday, Greece's Economy Minister said her country was not counting on any new rescue funds from the European Union, speculation over which has sharpened risk appetite in recent days. Fed Chairman Ben Bernanke, meanwhile, was expected later in the day to outline the U.S. central bank's strategy for tightening.

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