Investing.com - The euro was steady against the dollar on Tuesday as concerns over Greece kept investors cautious, while markets looked ahead to congressional testimony by Federal Reserve Chair Janet Yellen later in the day.
EUR/USD was last at 1.1327, little changed for the day and holding above Monday’s lows of 1.1294.
Greece was to submit a list of proposed economic reforms to Brussels later Tuesday after missing Monday’s midnight deadline. The reforms must be approved by the country’s lenders in order for Greece to secure the four-month extension to its bailout.
Investors remained wary as a collapse of the deal would revive concerns over a possible Greek exit from the euro zone.
Elsewhere, the euro gained ground against the yen, with EUR/JPY up 0.3% to 135.07.
The dollar was also higher against the Japanese currency, with USD/JPY rising 0.39% to 119.26.
Fed Chair Janet Yellen was to testify before the Senate Banking Committee in Washington later in the trading day, with market participants watching for any indication on when U.S. interest rates may start to rise.
Last week’s minutes of the Fed’s January meeting were more dovish than expected, showing that some officials thought that raising rates too soon could weigh on the U.S. economic recovery, and that a deterioration in the global economic outlook could also pose a threat.
In other trade, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased up 0.08% to 94.74.