The world's reserve currency edged up in value against many of its major rivals on Tuesday amid growing optimism, according to Reuters.
March retail sales climbed to their highest level in since late 2012. The metric suggests that the U.S. economy will continue pushing ahead as the spring continues following a rough winter in much of the U.S.
"It's hard for the dollar/yen to move. The situation in Ukraine is dragging on longer than expected, but at the same time Japanese shares seem to have bottomed out," senior foreign exchange strategist Masashi Murata with Brown Brothers Harriman in Tokyo told The Wall Street Journal on Tuesday, noting the greenback is poised to remain at 101 yen. "There aren't enough cues to spur further selling below that level."
The dollar index, a metric that measures the value of the U.S. dollar versus rival monetary units, pushed up 0.15 percent during Tuesday trade.
The U.S. dollar retained its strength against the common currency of the European Union though the New York Federal Reserve Bank said area manufacturing production edged down in April, according to Bloomberg.
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