The dollar edged higher against the other major currencies on Wednesday, but remained within close distance of a five-week trough as declining expectations for a U.S. rate hike in 2016 continued to weigh.
USD/JPY rose 0.33% to trade at 101.21, off Tuesday’s three-week low of 100.65.
The greenback found mild support after the Commerce Department said on Tuesday that personal spending increased more than expected, by 0.4% in June, while household spending also climbed 0.4% in May.
The report also showed that personal income rose 0.2%, falling short of forecasts of 0.3% growth.
But the greenback remained under pressure after Dallas Fed head Robert Kaplan urged caution on raising U.S. interest rates amid a raft of risks facing the global economy.
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