The dollar dipped 0.25 percent to 94.511 against a basket of currencies on Monday as investors pared long bets on the greenback ahead of Federal Reserve Chairman Jerome Powell's testimony on the economy and monetary policy before the U.S. Senate Banking Committee on Tuesday, followed by testimony to the House of Representatives Financial Services Committee. The euro rose 0.21 percent to 1.1709 against the greenback. Against the yen, the dollar was down 0.07 percent at 112.28. The euro is expected to meet resistance and support against the dollar at $1.1820 and $1.1530 respectively, while the dollar is expected to meet resistance and support against the yen at 114.00 and 111.20 respectively.

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