Dollar nears 150 yen ahead of US inflation test; bitcoin buoyant

The dollar approached the 150 yen threshold on Tuesday and remained stable ahead of U.S. inflation data. Bitcoin stayed around $50,000 for a second day. Trading was quiet in Asia due to the Lunar New Year holidays and the anticipation of consumer prices data from the U.S. The yen, which has already decreased over 5% against the dollar this year, is under pressure as investors adjust their expectations of the Federal Reserve’s easing cycle. Other currencies, like the euro and sterling, saw minor declines. The inflation report is expected to shed light on future rate cuts by the Fed.