SINGAPORE, May 20 Reuters The dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows signs of cooling.

The Japanese yen was flat at 155.74 per dollar, with traders on alert for any signs of government intervention. The currency has moved in tight ranges in the past couple of trading days after a tumultuous start to May in the wake of suspected rounds of currency interventions by Tokyo to prop up the yen.

Data last week showed U.S. consumer prices for April rose lessthanexpected, leading to markets pricing in 50 basis points bps of easing, or at least two rate cuts this year, but various Fed officials have sounded words of caution about when rates may fall.

That has prompted traders to trim the amount of easing expected this year to about 46 bps, with only a rate cut in November fully priced in.

The spotlight will now be on the upcoming Personal Consumption Expenditures PCE price index report the Fed39;s preferred gauge of inflation due on May 31.

The Fed will not have enough data by the June or the July meeting to be confident enough to cut rates, said Brian Jacobsen, chief economist at Annex Wealth Management.

Come August, Fed Chair Powell could take the Jackson Hole conference as a time to explain their thinking around the path ahead, teeing up a September cut. Let39;s just hope the data cooperates.

Markets will…