TOKYO: The dollar edged up against other major currencies on Monday after weaker than expected Chinese trade data, supported by investor expectations of US interest rate increases. The greenback was at 120.44 yen in Tokyo compared with 120.30 yen in New York late Friday. The euro bought $1.0593 and 127.47 yen against $1.0599 and 127.50 yen. A report last week showed fewer Americans applied for first-time unemployment benefits over the past few weeks than at any time in almost 15 years, helping to allay concern about the strength of the US economy. Such concerns had grown after a closely watched payrolls report at the start of the month showed the economy added the fewest jobs in March since the end of 2013. “Data last week showed that the weak payrolls number was more of an aberration,” said Sim Moh Siong, a foreign-exchange strategist at Bank of Singapore. A broadly healthy series of US data over the past year has fed expectations the Federal Reserve will raise interest rates by the end of the year, with the main differences over whether it will be sooner rather than later.
