Investing.com - The dollar was little changed against the yen on Tuesday, as investors remained cautious ahead of Federal Reserve Chairwoman Janet Yellen’s first testimony on monetary policy to Congress.
USD/JPY touched session highs of 102.40 and was last up 0.04% to 102.30.
The pair was likely to find support at 101.70 and near-term resistance at 102.63, Monday’s high.
Ms. Yellen was to testify on monetary policy and the outlook for the economy before the House Financial Services Committee later Tuesday and the Senate Banking Committee on Thursday.
The Fed chair was expected to reiterate that the bank will continue to unwind its stimulus program as long as the economic recovery continues as expected, and to repeat that the bank will keep interest rates at current record lows for some time to come.
The testimony is coming amid fresh concerns over the outlook for the recovery, following the weakest two-month stretch of U.S. job creation in three years in December and January.
Trade volumes remained low on Tuesday, with markets in Japan closed for a national holiday.
The dollar was trading at two-week lows against the euro, with EUR/USD edging up 0.10% to 1.3658.
Elsewhere, the euro edged higher against the yen, with EUR/JPY inching up 0.11% to 139.69.