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Tokyo - The dollar held up in Asia on Friday as fears about Greece's debt and a rout on Chinese stock markets ease, while investors bet on a near-term interest rate hike by the US Federal Reserve.
In Tokyo midday trading, the greenback bought ¥124.08, slightly down from ¥124.14 in New York, but still up from ¥123.90 on Thursday in Asia.
The euro ticked up to $1.0896 yen, from $1.0875 in US trade, where it fell at one stage to $1.0856, its lowest level in seven weeks.
The single currency fetched ¥135.20 against ¥135.00.
"Good data, receding risks from China and Greece and Yellen's testimony are underpinning the dollar," said Kumiko Ishikawa, analyst at Gaitame.com Research Institute.
Fed chief Janet Yellen said this week that she expects interest rates to rise by the year's end as the world's top economy gets back into gear.
"Yellen's testimony turned out to be an event to confirm a rate hike this year, keeping the dollar buying trend," said Yasuhiro Kaizaki, vice president for global markets at Sumitomo Mitsui Trust Bank.
On Thursday, the European Central Bank (ECB) increased its lifeline to Greece, meaning its banks can open on Monday for the first time in three weeks, while ECB head, Mario Draghi, threw his weight behind behind IMF calls for debt relief for Athens.
The European Commission, the bloc's executive arm, also decided in theory to grant Greece a three-month €7.0bn bridging loan to keep its economy afloat until its new bailout is ratified.
And eurozone ministers agreed on Thursday to start bailout talks, hours after lawmakers in Athens gave the OK to tough reforms, taxes, pensions and labour rules demanded by creditors.
