Dollar eases in Asian trading

SINGAPORE: The dollar eased in Asian trade Monday ahead of a testimony by Federal Reserve chief Ben Bernanke in the US Congress and a meeting of G20 finance ministers this week.

With China's second quarter gross domestic product coming in line with expectations, investors are likely to focus on Bernanke's semi-annual testimony on the US economy and monetary policy on Wednesday and Thursday, analysts said.

Eyes will also be on a meeting of the Group of 20 finance ministers and central bank governors on Thursday and Friday.

In Singapore late morning trade, the dollar fetched 99.24 yen, down from 99.29 yen in New York trade Friday.

The euro was at $1.3070 from $1.3067 and 129.73 yen from 129.74 yen.

Japanese financial markets were closed for a holiday.

Beijing said Monday that GDP for the second quarter rose 7.5 percent, slowing from 7.7 percent in the preceding three months but within market expectations.