Dollar trades in upper 115 yen zone in early Tokyo deals

The U.S. dollar traded at the upper end of the 115 yen zone early Thursday in Tokyo, down slightly from its levels late Wednesday in New York.

At 9 a.m., the dollar was quoted at 115.94-99 yen, compared with Wednesday's 5 p.m. quotes of 116.04-14 yen in New York and 115.87-90 yen in Tokyo.

The euro traded at $1.3971-3976 and 162.02-07 yen, against late Wednesday's quotes of $1.3953-3963 and 161.98-162.08 yen in New York and $1.3969-3972 and 161.89-93 yen in Tokyo.

In New York on Wednesday, many market participants moved to the sidelines ahead of congressional testimony by Federal Reserve Board Chairman Ben Bernanke and Treasury Secretary Henry Paulson on problems in the mortgage market later Thursday, but the dollar maintained firmness on gains in New York stocks, traders said.