Investing.com - The euro held gains against the dollar on Tuesday as investors awaited Federal Reserve Chairwoman Janet Yellen’s testimony on monetary policy to Congress.
EUR/USD hit 1.3683, the highest since January 29 and was last up 0.21% to 1.3672.
The pair was likely to find support at 1.3614, Monday’s low and resistance at 1.3715, the high of January 27.
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 newly appointed Fed chair was expected to reiterate that the bank will continue to taper its asset purchase program as long as the economic recovery continues as expected, and to repeat that the bank will keep interest rates near zero for an extended period.
The testimony is coming amid fresh concerns over the outlook for the U.S. recovery, following the weakest two-month stretch of job creation in three years in December and January.
The euro was also trading at two-week highs against the yen, with EUR/JPY rising 0.34% to 140.01.
Elsewhere, the dollar edged higher against the yen, with USD/JPY rising 0.12% to 102.37.
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