The dollar rose on Monday against most currencies as investors await clues from Tuesday's testimony from US Federal Reserve Chair Janet Yellen before a Senate panel on the timing of a possible interest rate increase. The euro retreated on lingering doubts over whether Greece's four-month bailout extension struck late Friday would lead to a deal over how to keep Athens solvent.
A somewhat disappointing private report on German business confidence spurred further selling in the single currency, analysts said. "The Greece debt deal has been mildly positive, but it's difficult to determine what is the next move yet before Yellen's testimony tomorrow," said Lane Newman, director of foreign exchange at ING Capital Markets in New York.
The index of the dollar against a group of six currencies was up 0.3 percent at 94.567 after touching 94.915, its highest level in more than a week. The euro was down 0.4 percent at $1.1335 and down 0.5 percent at 134.75 yen, according to the EBS trading system. The dollar dipped 0.1 percent against the yen, last traded at 118.86 yen. The Swiss franc was down 0.9 percent at 0.9477 franc per dollar, while the euro was up 0.5 percent at 1.0742 francs, not far from a five-week high of 1.08115 struck late on Friday.