## The Dollar Holds Steady as Traders Await Key Economic Data
The U.S. dollar consolidated against major currencies on Thursday as traders awaited key economic data, including U.S. core inflation figures and an appearance by Fed Chair Jerome Powell.
The dollar index, a measure of the greenback against major peer currencies, ticked up following comments from Fed Governor Christopher Waller, who said he wasn't in a hurry to cut rates amid sticky inflation. However, the index later sat marginally lower at 104.34.
Market expectations for the first rate cut to occur at the Fed's June meeting have eased somewhat, with current pricing at a 60% chance compared to 67% last week.
## Japan's Yen Holds Ground as Intervention Talk Continues
The yen held its ground near the 152 mark after Japan's top monetary officials on Wednesday suggested they were ready to intervene to prevent further declines. The currency traded narrowly around 151.34 per dollar, after hitting its lowest level since mid-1990 on Wednesday.
Japanese authorities held a meeting on Wednesday to discuss the currency's weakness and ramped up their verbal warnings, putting the market on alert for potential intervention.
## China's Yuan Under Pressure as Authorities Step Up Support
China's central bank set the yuan fixing at the widest gap against Reuters' estimate in nearly five months, as authorities stepped up efforts to prevent sharp declines in the currency. The yuan slumped to a four-month low last Friday.
## Other Currency Movements
The kiwi dollar briefly dropped to its lowest since mid-November, while the Aussie fell 0.1%. The euro and sterling were largely unchanged.
## Bitcoin Rises
In cryptocurrencies, bitcoin rose 1.09% to $69,612.11.