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The dollar is likely to strengthen against the yen early in the Asian session on Tuesday ahead of producer prices and with markets in the region listing Lunar New Year holidays starting later this week.

USD / JPY is trading at 108.69, up 0.03%, while AUD / USD is trading flat at 0.7861.EUR / USD is trading up 0.03% to 1.2296 and GBP / USD is up 0.04% 1.3845.

The U.S. dollar index, which measures the strength of the greenback against trading of six major currencies, was last quoted down 0.23% to 90.01.

In Japan, producer prices will mature in January with an expected 0.2% increase for monthly and a 2.7% annual increase.

Overnight, the dollar traded roughly unchanged against major currencies as investors mulled the release of the Budget and Infrastructure Plan Monday from the White House.

Infrastructure plans are widely believed to be positive because they are seen as inflation and are expected to affect the US economy.

The infrastructure plan aims to spur new investment of $ 1.5 trillion by improving roads, airports and other public works. The plan also called for $ 50 billion to be invested in broadband, road, electricity and water projects.

The plan, however, is expected to face resistance from both sides of the Congressional alliance as Republicans are wary of other size spending - after a $ 300 billion budget deal was signed last week - while Democrats claim that the plan did not meet expectations on Federal funds.

The budget plan, meanwhile, forecast a deficit for the fiscal year 2019 to $ 984 billion, up from a previous projection of $ 526 billion.

The dollar, however, is expected to remain unchanged as the pound and euro recover from session lows.