Investing.com - The dollar moved higher against the yen in holiday-thinned trade on Monday as investors looked ahead to U.S. economic data and speeches by Federal Reserve officials later in the week for further indications on the path of interest rates.
USD/JPY was up 0.42% to 113.59.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, touched a high of 96.42, the most since March 16 and was last at 96.23.
Trading conditions were light, with financial markets in Europe closed for the Easter Monday holiday.
The dollar had strengthened after an upward revision to U.S. fourth quarter growth on Friday underpinned expectations for an interest rate increase in the coming months.
The Commerce Department fourth quarter gross domestic product was revised up to an annualized 1.4% from last month’s estimate of 1% growth.
Economists had expected an unchanged reading.
Higher interest rates would boost the dollar by making it more attractive to yield seeking investors.
The U.S. was to release data on the core personal consumption expenditures price index later in the day, which is a closely watched indicator of inflationary pressures.
The report was to be followed by a speech from Fed Chair Janet Yellen on Tuesday.
The euro was almost unchanged, with EUR/USD at 1.1170.
The Australian and New Zealand dollars edged higher, with AUD/USD rising 0.4% to 0.7537 and NZD/USD easing up 0.19% to 0.6702.