Speaking at the conference, Yellen told that 'core' reforms enacted after the 2008 financial crisis have boosted financial resilience without limiting credit or growth.
The Commerce Department said durable goods orders plunged by 6.8% in July after surging up by 6.4% in June.
"The United States, through coordinated regulatory action and legislation, moved very rapidly to begin to reform our financial system", Yellen said, "and the speed with which our banking system returned to health provides evidence of the effectiveness of that strategy".
"But if we keep this lesson fresh in our memories - along with the painful cost that was exacted by the crisis - and act accordingly, we have reason to hope that the financial system and economy will experience fewer crises and recover from any future crisis more quickly, sparing households and businesses some of the pain they endured during the crisis that struck a decade ago". Still, his speech is in focus amid growing talk that the ECB is likely to signal a scaling back of its monetary stimulus in September or October.
Reversing from an early high of 1.2794 against the pound, the greenback weakened to a 3-day low of 1.2865. A slower path of U.S. rate hikes could drive up demand for safe heaven assets, benefiting currencies like Japanese yen and Swiss franc.
After a wave of buying subsided, the dollar lost ground moderately and moved around ¥109.60 for most of the afternoon.
Desafio Ruta 40: Orly Terranova ganó el prólogo
Al día siguiente se llevará a cabo el segundo parcial recorriendo las ciudades de Villa Unión y Tinogasta (Catamarca ). La carrera comprende 1385 kilómetros de velocidad libre y 871 kilómetros de enlace, divididos en cinco etapas .
Overnight on Wall Street, the Dow Jones closed 28 points lower at 21,783, with other US indices also weaker on worries over the continuing battles between President Trump's administration and Congress.
The dollar fluctuated in a narrow range mostly above 109.50 in Tokyo trading on Friday, with market players retreating to the sidelines ahead of a speech by U.S. Federal Reserve Chairwoman Janet Yellen at an economic symposium later in the day.
Gold firmed on Friday after U.S. Federal Reserve Chair Janet Yellen made no mention of monetary policy in her much-anticipated speech, while investors awaited clues from European Central Bank President Mario Draghi. The euro was at $1.1781-1782, down from $1.1792-1794, and at ¥129.19-26, up from ¥128.85-86.
Brent crude: US$47.75 a barrel, up 0.7%.
Prices spiked to their strongest levels in four months and were the highest in two years for this time of year.
Spread betting firm CMC Markets expects the FTSE 100 index to open around 4 points higher at 7,411, having gained about 24 points yesterday.