The U.S. dollar advanced further in very thin Asian trading in the Easter weekend.

The rise was partly due to technical adjustments that took the greenback up one point to a four-month peak of 106.95 yen. Trading was thin, and traders mostly took to the sidelines.

The rally was started by the Fed’s decision to raise short-term interest rates one-quarter point to 2.75%. The relatively hawkish statement by the US monetary policy-makers sent the exchange rates for the greenback up, as they let analysts predict a further rise in Fed funds rate. US rate hikes usually boost the dollar.

"The market is already quite dollar-bullish and will probably stay that way next week," said Tetsu Aikawa, vice president of foreign exchange trade at UFJ Bank in Tokyo.

Japanese economic data are due to be released this week. The government will reveal industrial production figures for February on Wednesday. The Bank of Japan will make public the results of its January-March "tankan" business sentiment survey on Friday that is expected to show improvement in sentiment from the previous results, but not as significant as to provoke a rise in the yen rate.