USD/JPY traded at 100.07, 0.05%, in a range of 100.02 - 100.12 with the focus on the Nikkei open, which is expected to show robust sentiment for equities on prospects for continued easy policy in Japan and the United States. The yen also moved on comments Thursday from Japanese Finance Minister Taro Aso that the country should maintain currency market interventions as policy tools to use when excess volatility roils markets.
Weaker annualized GDP growth in Japan reported in the third quarter is expected to keep the Bank of Japan in its aggressive easing mode, while Yellen's comments overnight indicated the start of a taper for the Fed's USD85 billion a month bond-buying program may not come in December as some investors expected after solid jobs data last week.
"We have made good progress, but we have farther to go to regain the ground lost in the crisis and the recession," Yellen told a congressional committee vetting her nomination.
"Unemployment is down from a peak of 10 percent, but at 7.3 percent in October, it is still too high, reflecting a labor market and economy performing far short of their potential. At the same time, inflation has been running below the Federal Reserve's goal of 2 percent and is expected to continue to do so for some time."
Elsewhere in the U.S., the Labor Department reported earlier that the number of individuals filing for initial jobless benefits last week declined by 2,000 to a seasonally adjusted 339,000.
Analysts had expected U.S. jobless claims to fall by 11,000, which also softened the dollar.
A separate report showed that the U.S. trade deficit widened to USD41.8 billion in September from a deficit of USD38.7 billion in August. Analysts were expecting an USD39.0 billion deficit.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.02% to 81.04.
On Friday, the U.S. is to round up the week with data on manufacturing activity in the New York region, as well as reports on industrial production and import prices.
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