The dollar firmed up through the morning session in light trade, as markets remained close to the sidelines ahead of Yellen's "chat" and the upcoming long weekend in the U.S. and the U.K.. The greenback moved to session highs against the euro and yen following comments from Fed chair, who said it would be appropriate to raise interest rates in the coming months. Apparently those left on trading desks in the U.S. took that to mean June, as EUR-USD fell to fresh two-plus month lows of 1.1112 lows from 1.1145, and USD-JPY climbed to 110.38 from 109.90.
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