The yen rose earlier on a report that the Chinese yuan could be convertible on the capital account in the future.

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This week's focus will be the January US consumer price index, due Wednesday, as the market is awaiting the key inflation data.

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If the core CPI is above market consensus forecast of a rise of 0.4 pct year-on-year, this would fuel speculation that the Bank of Japan will end its ultra-easy monetary policy at its meeting next week, which could spark a spate of yen-buying.

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