The US dollar was little changed against rival currencies after global stock markets began showing signs of stabilizing following the recent sell-off, dealers said. The recent turmoil in equities around the world was believed to have triggered a massive shift of funds into dollar-denominated assets, said Sumitomo Trust and Banking dealer Norihiro Takemura. "So the rebound in the global equity market, if sustained, will see dollar supply ease," he said. Overnight the Dow Jones Industrial Average jumped 198.27 points or 1.83 pct to close at 11,015.19, and coupled with its 110-point gain Wednesday, the Dow posted its best two-day run since April 2003. In Tokyo, the benchmark Nikkei 225 Stock Average ended the morning session up 412.72 points or 2.85 pct at 14,883.48, sustaining gains from Wednesday. At 12.20 pm Tokyo (0320 GMT) the euro was at 1.2642 usd, compared to 1.2645 usd earlier in Sydney and 1.2636 usd in late New York trade Thursday. The dollar/yen was changing hands at 114.65 yen, compared to 114.68 yen in Sydney and 114.76 yen in New York. Bernanke overnight also didn't favor the dollar, dealers said. Bernanke, while warning that he would remain vigilant on the inflation front, said that inflation expectations "have remained within the ranges in which they have fluctuated in recent years." His comments helped ease some of the fears in the market that a Fed rate hike in August looms after an expected increase this month. "As the market has shifted its main focus back to the interest rate issue, his comments, which did not warn of stronger inflation risk in the US, discouraged investors from chasing the dollar higher," Takemura of Sumitomo Trust and Banking said. "Also given the dollar's rapid gains of late and no fresh leads to buy it further, the greenback may undergo some mild correction in the near-term, and may touch 112-113 yen levels," he said.