Yen dips against dollar in Asian trade

Yen tilted lower in Asian trade against the dollar away on track for the sixth loss in seven days, amid a lack of data from Japan and ahead of important US industrial data later today. 

As of 05:39 GMT, USD/JPY rose 0.11% to 112.41 from the opening of 112.29, with an intraday high at 112.57, and a low at 112.24. 

US Data, Powell's testimony 

Now markets await US industrial production data, expected to clock in a 0.5% growth in June, compared to a 0.1% dip in May, while the Capacity Utilization Rate is expected to have risen to 78.4% from 77.9% in May. 

Federal Reserve Chair Jerome Powell will present the first half of his testimony on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC later today.

Powell will present the second half before the House Financial Services Committee tomorrow, with investors looking for clues on future monetary policies and interest rate hikes this year.