Dollar holds its ground as key inflation data looms
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The dollar held tight ranges against most peers on Thursday as traders awaited key U.S. inflation data for cues on Federal Reserve policy. The focus on the massive interest rate gap between Japan and the U.S. helped the dollar make some gains on the yen. Last week's Fed policy meeting and downside surprise in U.S. job growth have markets increasing bets for two rate cuts this year. Japan's top currency diplomat Masato Kanda reiterated a warning that Tokyo is ready to take action in the currency market. The big question for investors is whether the Bank of England suggests that a rate cut could come in June. Bitcoin fell 0.21% to $61,436.49.

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https://www.investing.com/news/economy/dollar-holds-its-ground-as-key-inflation-data-looms-3430425