US Producer Price

Economists polled by Reuters had forecast the PPI climbing 0.3 per cent after a previously reported 0.4 per cent gain in January

High inflation and persistent labor market strength have prompted financial markets and most economists to push back expectations for an initial Fed interest rate cut to September from June

In a rate check, central bank officials call up dealers and ask for the price of buying or selling yen. However, actually intervening to support the currency would be a larger step.

The broad-based increase in wholesale prices supports views that inflation will pick up this year