The US dollar turned top-heavy against major currencies in afternoon trading in Tokyo on selling by Japanese exporters but overall activity was hushed due to the absence of foreign investors for the long Easter weekend, dealers said. At 2.50 pm Tokyo (0550 GMT) the euro was quoted at 1.2112 usd, compared to 1.2110 earlier in Tokyo and 1.2112 in late New York trading. Against the yen, the dollar was changing hands at 118.63, from 118.64 earlier in Tokyo and 118.45 in New York. BNP Paribas dealer Koichi Yoshikawa said Japanese exporters sold the dollar for hedging purposes and this, along with demand for yen from Asian names, may keep a lid on the US currency's advance. Earlier in Asia, the dollar was in good demand due to renewed expectations that US interest rates will continue to rise following strong data overnight and hawkish comments from Federal Reserve officials, dealers said. The US Commerce Department said retail sales increased 0.6 pct in March, with unexpected strength in auto and building materials sales, beating the consensus forecast for a 0.4 pct rise. The data helped push the yield on the 10-year US Treasury above 5 pct for the first time in nearly four years. Federal Reserve Governor Mark Olson said the latest retail sales data "point to a solid rise in real consumer spending in March and a very strong reading for the first quarter as a whole." He said the central bank will be watching the data closely to decide whether more rate hikes are needed. "While the market tends to think the US Fed may end its rate hike at 5.25 pct, I cannot rule out the possibility that the US authority may not change its policy stance even after the federal funds rate hits that level," BNP Paribas' Yoshikawa said.