SINGAPORE, Feb 29 Reuters The dollar tracked toward monthly gains on Thursday ahead of highlyanticipated inflation data that could ruffle the interest rate outlook, while the sliding yen found a footing after a policymaker hinted at the need to exit ultraeasy policies.

Bitcoin was on the charge, topping 63,000 early in the European morning for a gain of nearly 50 in February. The monthly rise is the largest since December 2020, and a record high above 69,000 is within sight. It was last at 63,051.

The yen and fellow safehaven Swiss franc are the worst performing G10 currencies against the dollar this month as investors have sought out riskier assets and as bets on U.S. interest rate cuts have been dialled back lifting the dollar.

The yen last traded at 149.87 to the dollar, down about 2 on the month. It was almost 0.6 higher on the day after Bank of Japan board member Hajime Takata said he felt there were finally prospects for achieving the bank39;s 2 inflation target, paving the way to leave behind negative rates and yield caps.

The yen is down more than 2 on the euro this month and made nineyear lows on the Australian and New Zealand dollars as investors pick up income by borrowing yen at rates near zero and selling it against currencies where interest rates are higher.

Takata39;s remarks should add to conviction that an earlier than expected hike at March meeting should not be ruled out, said Christopher Wong, currency strategist at OCBC.

With JPY shorts at…