The U.S. dollar rose against the Japanese yen in early Asian trade Monday from its levels in New York on Friday, but was little changed against the euro as many players took to the sidelines after last week's Good Friday holiday in many U.S. and European markets.
The dollar traded at 106.58 yen early Monday morning, up from 106.38 in New York late Friday and 106.36 late Friday in Tokyo. Against the euro, the dollar stood at $1.2944, little changed from $1.2949 in New York late Friday and $1.2945 in Tokyo.
The dollar was mostly higher against other regional currencies, edging up to 1,015.2 South Korean won from 1,014.3 on Friday and to 39.010 Thai baht from 38.995.
The dollar has been rallying since Tuesday when the Federal Reserve lifted rates and issued a hawkish-leaning statement noting stronger inflationary pressures, setting off expectations of further rate hikes later this year. Higher U.S. interest rates tend to boost the dollar.
Overall, trading was generally quiet as players awaited Japanese economic data due this week.
The government will announce industrial production figures for February on Wednesday while the Bank of Japan will release the results of its January-March "tankan" business sentiment survey on Friday.
Many analysts expect the BOJ's survey to show that business sentiment has improved slightly from three months ago, but not enough to set off a sharp yen rally.