The dollar was stuck in the low 162 yen range at 3 p.m., almost flat from late New York trading the previous day. As U.S. inflation data dampened rate hike expectations, dollar selling and yen selling intersected, keeping the range to just 15 sen. Meanwhile, yen selling progressed in crosses such as the euro, pound, and Australian dollar, making yen weakness clear. Behind this are concerns over fiscal policy and the Bank of Japan's independence, with some pointing out that while Fed Chairman Warsh has shown a stance of maintaining independence, the BOJ appears to fall short.