The US dollar was slightly weaker against the yen and barely changed against the euro, in listless midafternoon trade here, with little upcoming US economic data today to stimulate market interest, dealers said. They said apart from the latest German Ifo business sentiment survey for March due tonight, the next point of interest for investors is likely to be Wednesday's testimony from Federal Reserve chairman Ben Bernanke to a Joint Economic Committee. NAB Capital strategists said Bernanke will need to hose down expectations for a near-term interest rate cut if the US dollar is to stabilize in the near-term, especially given that new home sales data released overnight showed a 3.9 pct drop in February compared to the market consensus for a 5.4 pct rise. New home sales in the US are now at their lowest level since June 2000. "Admittedly, better news on the economy would be helpful to Bernanke's cause," the NAB strategists said. CMC Markets' chief analyst Ashraf Laidi said the latest US housing data should place the burden on Bernanke to come up with a more detailed assessment regarding the deterioration of US housing. This follows last week's Federal Open Market Committee statement which outlined an "adjustment in the housing sector is ongoing." Laidi said Bernanke is not likely to give the usual sanguine speech toward the US housing market and the economy, especially when testifying to representatives of those affected by the subprime lending fallout. "As Bernanke gives a more detailed view on the Fed's downgrading of the housing sector, we expect the market to continue dragging the dollar lower and trigger further yen gains," Laidi said. Meanwhile, the analyst said tonight's release of the latest US consumer confidence survey for March and a housing price index could increase the drift away from risk appetite and extend the current wave of US dollar selling and weigh on US equity markets.