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Prime News: Dollar Climbs Versus Yen Ahead of Yellen Speech | The Ultimate Forex Trading Course

The dollar rose on Tuesday, moving towards a one-month peak versus the yen as investors await Federal Reserve Chair Janet Yellen's speech to see if she would stick to her upbeat economic views.

Yellen is set to take part in talks on global economic issues at London and is expected to stick to her positive outlook on the U.S. economy in spite of the latest batch of underwhelming U.S. economic data, encouraging the Fed's forecast of increasing interest rates again in 2017.

The dollar hit a one-month peak of 111.95 yen on Tuesday. It last stood 0.1 percent higher at 111.94 yen.

However, recent U.S. data pushed investors to be more cautious on buying the dollar. New orders for U.S.-made capital goods dropped in May while shipments also fell, which implied a loss of momentum in the manufacturing sector.

The euro nursed losses following dovish remarks from European Central Bank President Mario Draghi. It was steady at $1.1180, higher than its overnight low of $1.1172.

The dollar index was little changed on the day at 97.432.