The dollar gained fresh strength against its major counterparts today.
In early US trading, the euro fell 0.7 per cent to $1.1971, while the dollar stood at Yen 112.83, up 0.9 per cent.
The dollar's move came as the market is anticipating Fed Chairman Alan Greenspan will reiterate the central bank's policy of measured tightening and an upbeat outlook on the economy in his semiannual testimony tomorrow.
In a possible preview of his testimony to Congress, Mr Greenspan said: "The US economy seems to be coping pretty well with the run-up in crude-oil prices."
His comments came in a series of written answers to questions released by the Joint Economic Committee of Congress yesterday.
Agencies
