FOREX-US dollar flat as investors await inflation data; focus on yen action

The dollar was little changed on Tuesday, with investors cautious ahead of U.S. inflation data to be released on Wednesday, even as the yen hovered near multi-decade lows, keeping traders on alert for any possible action from Japan to prop up its currency. Ahead of the CPI report, the U.S. rate futures market has raised the odds of a June rate cut to 58%, up from 52% late on Monday, the CME's FedWatch tool showed.