Usd appreciated by .4% from last month's close. While less than the previous month appreciation; it is still bullish.
Interest wise the rate cuts if it happens show that the usd does not need external funding to stand alone. So going dovish based on the central bank shows stability.
Jpy increasing it's interest on the otherhand makes me speculate that something is happening that i don't know yet but it is affecting the country. Because the one stable currency finally decided to change. And so it was not unexpected to see jpy depreciate.
If 1 dollar can buy 1 apple turns to 1 dollae being able to buy 2 apples, it does not mean the person buying is cheap but that the value of dollar is strong.
So long as the market reflects this properly, especially when the upcoming presidential elections come, then usd can only appreciate more.
The carry trade will continue as long as usd interest is higher than others and if it become less, then we trade in the other direction. But as long as usd is used, no matter what, usd will remain king.