In today’s trading, the US dollar is strengthening against the euro and the pound sterling, but has moved to a decline in the pairing with the yen after jumping to its highest since 1998 during the session.

The market’s focus is on the speech in the US Senate Banking Committee by Federal Reserve (Fed) Chairman Jerome Powell, whose statements are important for assessing the outlook for the US economy and further monetary policy in the States.

Calculated by ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) adds 0.3%, the broader WSJ Dollar Index – 0.31%.

As of 9:06 a.m. Moscow time, $1.0497 was given for the euro, compared with $1.0533 at Tuesday’s market close.

The pound at the same time fell in price to $1.2232 from $1.2277.

The exchange rate of the U.S. currency against the Japanese national currency amounted to 136.36 yen by 9: Moscow time versus 136.57 yen at the close of the previous session. Earlier in the course of trading the dollar exchange rate rose to the maximum for almost 24 years 136.72 yen.

Japanese Prime Minister Fumio Kishida said the day before that the Bank of Japan should “maintain the current course” of monetary stimulus, the Nikkei newspaper reported. Meanwhile, the minutes of the country’s central bank meeting held on July 16-17, published on Wednesday, confirmed that Japan’s ultra-soft monetary policy will remain in place for a long time.

The dollar exchange rate may rise to 140.8 yen, which is the next level of resistance, notes IG analyst Yep Jun Rong, whose opinion is quoted by Trading Economics.