The dollar fell on Wednesday immediately after President Donald Trump said it was "getting too strong."
Such concerns have been greatly eased lately, especially following the first meeting between Trump and his Chinese counterpart President Xi Jinping in Trump's Mar-a-Lago estate in Florida last week.
The data came amid a warming of relations between China and US, with Trump backing away from labeling China a currency manipulator in an interview with the Wall Street Journal. Look for a possible Trump flip on climate change-he has always called it a "hoax" and talked down the Paris climate treaty, positions that have displeased Beijing.
Adams: President Trump also mentioned that he offered China better trade terms to help negotiations on North Korea.
The central bank official added that much work remained to consolidate global confidence in the currency, raising worldwide "tolerance for its fluctuation flexibility" and to reduce the possibility of capital flight resulting from lack of confidence.
That does not mean, however, that Moore agrees with all of his former boss's new ideas. Trump is emerging as a president more acceptable to the mainstream establishment that has been anxious (if not terrified) of him - and less the outside bomb-thrower that many of his supporters thought he would be.
Moore argues that Yellen - along with many economists and bankers whom Republicans appointed to the Fed - has involved the central bank too deeply in regulating the financial sector and propping up the economy.
However, the potential for further gains in the Asian emerging market currency space will be attributed to expectations of the Fed pulling the trigger on an interest rate rise once again in June drifting lower and also whether Trump next chooses to take a softer stance on protectionist policies. With reduced rates, it is cheaper for businesses and households to borrow money, stimulating the economy and hiring and helping presidents win reelection.
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The US joint-operation with South Korea was an attempt to unsettle North Korea after recent ballistic missile tests in the region. The rhetoric coming out of North Korea continues to heat up as tensions between that Far East nation and the United States rise.
"Mr Trump seems to recognize the economic reality that a stronger dollar will make it harder to achieve some of his policy objectives", he said. The dollar had hit a 13-year high after Trump won the 2016 presidential election in November, on hopes of faster economic growth that would lead the Federal Reserve to raise interest rates after holding them close to zero for over seven years.
On the other hand, to tiresome the effect of rising dollar Trump's only hope is to use import duties to make foreign goods less competitive.
CURRENCY: The dollar declined to 108.84 yen from Wednesday's 109.03 yen.
To be sure, a strong dollar is not all bad: it lowers import prices while also supporting access to lower-cost credit by supporting the inbound flow of cash.
China's trade surplus with the United States, another bone of contention for Trump, widened in March from February, customs data showed on Thursday.
Indeed, Moore said, if Trump delivers on promise of a rapidly accelerating economy, his success would draw in investors from around the world, and the dollar would nearly certainly appreciate.
"The question is: is he able to influence monetary policy in order to get a weaker dollar?"
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