Dollar finds strength from Japan buying, recent Fed comments

The U.S. dollar was stronger against the yen during quiet Asia trade Monday, buoyed by buying from Japanese corporate players.

The dollar USDJPY, +0.40%  was trading at ¥113.54 after touching an intraday high of ¥113.69, its highest since March 16. That compared with ¥113.10 late Friday in North America.

The dollar rose amid thin trading volume, as Japanese importers and institutional investors bought the currency ahead of their March 31 book closing.

“The gain is driven by flows,” ahead of the end of the fiscal year, said Yuzo Sakai, a manager of foreign-exchange business promotion at Tokyo Forex & Ueda Harlow.

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