SINGAPORE, April 17 Reuters The dollar climbed to a onemonth high against Japan39;s yen on Monday as traders eyed up another interest rate hike from the Federal Reserve, while the Bank of Japan stuck to its easy money policies.

The dollar rose to 134.22 yen earlier in the session, the highest level since March 15. It was last up 0.12 at 133.9.

Meanwhile, the dollar index which measures the currency against six major peers was little changed at 101.64. It touched a oneyear low of 100.78 on Friday before rebounding somewhat.

With respect to the yen the story is fairly straightforward, said Jane Foley, head of FX strategy at Rabobank.

The dollar has bounced back but also we39;ve had comments from the Bank of Japan indicating that there is no real reason for them to pull back from their ultra easy policy.

Expectations of higher interest rates relative to global peers tend to boost a currency by making investments there look more attractive, and vice versa.

New Bank of Japan Governor Kazuo Ueda last week made clear that the country would remain a dovish outlier by keeping interest rates at ultralow levels for the time being.

Meanwhile, pricing in derivatives markets shows traders think there39;s a roughly 84 chance the Fed will hike rates again by 25 basis points in May, up from around 69 last week .

That increase came after past U.S. retail sales figures were revised upwards, a Fed official said rate hikes were yet to have the desired effect, and consumer…