PARIS, Aug 22 (Reuters) - European shares were flat in early trading on Friday, taking a breather following a brisk two-week rally, with investors turning cautious ahead of a speech by U.S. Federal Reserve Chair Janet Yellen.
At 0701 GMT, the FTSEurofirst 300 index of top European shares was up 0.01 percent at 1,355.20 points. The index has risen 4.5 percent since a low hit two weeks ago, regaining ground following a sell-off started in June.
Yellen is due to speak later in the day at the annual gathering of central bankers in Jackson Hole, Wyoming. Investors will be looking for any fresh signals about the timing of U.S. interest rate increases.
Minutes from the Fed's July meeting on Wednesday showed policymakers debated whether interest rates should be raised earlier given a surprisingly strong job market recovery.
Reporting by Blaise Robinson; Editing by Atul Prakash