By Kevin Buckland
TOKYO (Reuters) -The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates.
Leading cryptocurrency bitcoin soared to a more than two-year high above $57,000, helped by enterprise software firm MicroStrategy Inc’s announcement that it had bought about 3,000 more of the tokens.
The yen was firmer after consumer inflation data topped estimates, reinforcing expectations that the Bank of Japan is still on track to exit negative rates as soon as next month.
The U.S. dollar index, which measures the currency against a basket of peers including the yen, euro and sterling, traded flat at 103.77 in Asian time, following a 0.17% slide on Monday.
Markets have all but ruled out a cut at the Fed’s March meeting and have recently pushed back…
