Dollar struggles as Yellen eyed for direction

The dollar languished close to a 3-1/2-month low against a basket of major currencies on Wednesday, as traders waited for U.S. interest rate guidance from Federal Reserve Chair Janet Yellen. "The most likely is quite a balanced assessment, in which she says the U.S. economy is doing well, but acknowledges that the market hasn't taken this first rate hike too well and that this has led to a tightening of monetary conditions," he said.