Dollar steady as traders weigh Fed rate cut bets; yen shaky at 150/$

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Key Points

A string of strong US economic data and recent reports showing persistent price pressures had led traders to rethink when the Fed will start its easing cycle, with the latest expectations that June is likely to be the starting point...

US central bankers are looking through recent data showing price pressures rebounded last month, and are focusing instead on overall progress on inflation that they say will likely set the agenda for interest-rate cuts later this year...

Meanwhile, the euro was 0.1% higher at $1.08155 ahead of the inflation report from the euro zone that is likely to show a dip in prices, bolstering the case for the European Central Bank to start easing rates later this year...

Data on Thursday showed inflation eased in Germany, France and Spain, suggesting that euro zone inflation, to be published on Friday, will show a slowdown to around 2.5% in February from 2.8% January, moving even closer to the ECB's own 2% target...

But on Friday, BOJ Governor Kazuo Ueda said it was too early to conclude that inflation was close to sustainably meeting the central bank's 2% inflation target and stressed the need to scrutinise more data on the wage outlook...

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