Markets brace for US inflation reading, yen strengthens on BOJ comments

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Key Points

SINGAPORE/LONDON (Reuters) -The dollar tracked toward monthly gains on Thursday as European inflation data trickled in and ahead of highly-anticipated U.S. data, while the sliding yen made back some ground after a policymaker hinted at the need to exit ultra-easy policies...

The dollar was down 0.66% against the yen at 149.75 after Bank of Japan board member Hajime Takata said he felt there were finally prospects for achieving the banks 2% inflation target, paving the way to leave behind negative rates and yield caps...

If sustained that would be the dollars biggest daily fall against the yen in 2024, though thats in large part a reflection of how few days of strength the yen has had this year the dollar is still up 1.8% on the Japanese currency in February...

The common currency strengthened a fraction after German provincial flash inflation data showed month-on-month CPI was higher in February than in January in several of the first provinces to report figures...

French consumer prices rose 3.1% year-on-year in February, slightly more than expected on higher energy prices, while prices in Spain rose 2.9%, in line with expectations, data also released Thursday showed...

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