Dollar hits four-month high vs yen; stocks end flat

The dollar hit a four-month high against the yen and global equity markets edged up on Tuesday as investors awaited testimony by Federal Reserve Chair Janet Yellen this week and any signs of tighter U.S. monetary policy.

MSCI`s measure of stock performance world-wide initially rose, lifted by expectations of robust global growth.

U.S. stocks had a choppy session, hitting session lows after President Donald Trump`s eldest son released an e-mail chain related to a meeting with a Russian lawyer linked to the Kremlin during last year`s election campaign.

Wall Street was then able to claw back its losses after the Senate announced a two-week delay to its August recess in order to work on legislation, giving investors hope the Republican agenda could be advanced.

"It says to me there`s a commitment to make some of the changes that the markets would like to see," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts.

Europe`s main bourses faltered despite a fresh flurry of M