Investing.com - The U.S. dollar held steady at more than one-month highs against the yen on Tuesday, as growing expectations for a U.S. rate hike continued to support the greenback and as progress on the Greek debt front dented demand for safe-haven assets.
Trading volumes were expected to remain light with no major U.S. data to be released throughout the day.
USD/JPY hit 124.48 during U.S. morning trade, the pair's highest since June 10; the pair subsequently consolidated at 124.22.
The pair was likely to find support at 123.95, Monday's low and resistance at 124.63, the high of June 10.
The dollar remained supported after Federal Reserve Chair Janet Yellen said last week that the Fed is likely to raise rates "at some point this year."
Meanwhile, demand for the safe-haven yen weakened after Greek banks reopened on Monday following a forced 3-week closure, while restrictions on cash withdrawals remained in place.
Also Monday, Greece repaid the totality of its arrears of about €2.0 billion to the International Monetary Fund. "Greece is no longer in arrears to the IMF," the Fund's spokesman Gerry Rice announced on Monday.
Athens had fallen into arrears with the IMF on June 30 after the country missed a €1.6 billion payment.
"The Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth," Rice added.
The Greek Parliament was scheduled to vote on further austerity measures on Wednesday.
The yen was lower against the euro, with EUR/JPY rising 0.37% to 135.39.