The US dollar was steady against the yen and the euro in Asian afternoon trade as investors were sidelined by the release of economic data in the US and Europe and Japan. "With the Group of Seven meeting a non-event for the currency market, investors are waiting for the Bank of Japan meeting, the release of GDP data in Japan and the retail sales figures in the US," - said Tomoko Fujii, head of economic strategy at Bank of America. On a two-day meeting Bank of Japan will start on Thursday to discuss monetary policy and at the government will release its preliminary fourth-quarter GDP data, said Fujii. The US will announce last month's retail sales figures on Wednesday. There were no important data releases today so investors preferred not to take an aggressive position on major currencies. Also later this week, Federal Reserve Chairman Ben Bernanke, who earlier signalled a further easing in interest rates, will be addressing the US Senate. While the Bank of Japan is widely expected to keep its benchmark rate unchanged at 0.5 percent, the lowest among developed countries, investors will be waiting for the statement from its governor for any clue on the direction of interest rates, said Fujii.