USD/JPY gains ground ahead of Yellen's Congressional testimony
Economies.com
2021-01-19 06:13AM UTC
USD/JPY tilted higher in Asian trade on Tuesday amid a lack of data from Japan and the US while former Fed Chair and Treasury secretary candidate Janet Yellen prepares for her Senate testimony.
As of 07:09 GMT, USD/JPY rose 0.30% to 104.00, with a session-high at 104.08.
Janet Yellen will testify ahead of the Financial Committee in the Senate, expected to urge the government for acting strongly with the launch of the new stimulus plans to boost the economy.
Yellen is expected to say the US doesn't aim to weaken the dollar for competitive reasons in response to accusations from China and other powers.
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