SINGAPORE, Dec 12 (Reuters) - The yen nursed losses on Tuesday...

SINGAPORE, Dec 12 (Reuters) - The yen nursed losses on Tuesday as traders walked back expectations for a Japan rate hike, while the dollar was waiting on U.S. inflation data and a slew of central bank meetings.

The dollar rose about 0.9% on the yen overnight JPY=EBS . At 145.96 yen it is about 3% above a low touched last week after remarks on the challenging outlook from Bank of Japan Governor Kazuo Ueda were taken as a hint that a policy shift was imminent.

Bloomberg reported on Monday, citing sources, that BOJ officials see little need to rush out of negative rates, triggering a reversal of the yen's rally and gains in Japan's stock and government bond markets.

"Wages growth is still weak," Commonwealth Bank of Australia analyst Kristina Clifton pointed out in a note.

"We do not expect the BOJ to end negative interest rates until Q2 24 at the earliest ... The wide differential between U.S. and Japanese 10-year government bond yields can continue to support dollar/yen."

Other currency pairs were broadly steady with the euro EUR=EBS at $1.0765 as the market focus turns on U.S. inflation data, due at 1330 GMT, and beyond it to Wednesday's Federal Reserve policy decision.

Sterling GBP=D3 held at $1.2555. The Australian dollar AUD=D3 , floated four decades ago on Tuesday, was kept to $0.6564 and the New Zealand dollar NZD=D3 to $0.6122.

The dollar has been sliding since October's benign U.S. inflation report but found a footing on upbeat jobs data published on Friday. The Fed is considered certain to hold rates at 5.25%-5.50% this week, putting the focus on the so-called dot plots for rates and Chair Jerome Powell's press conference.

Expectations 0#FF: for a March cut have ebbed, though May is seen as a better-than 3/4 chance. FEDWATCH

Economists polled by Reuters expect headline inflation to have been flat for November, and core inflation to keep steady at an annual pace of 4% - well above the Fed's 2% target.

"Overly exuberant 'pivot zealots' may be set up for stumbles over the markets-Fed expectations gap," said Mizuho economist Vishnu Varathan.

"Of particular interest will be where the median rate forecast for 2024 lands," he said in a note.

"Markets are banking on more emphatic cuts of (about) 100bp whereas the Fed may be more stoic with more measured reductions."

The European Central Bank, Bank of England, Norges Bank and the Swiss National Bank then all meet on Thursday, with Norway the only one considered a possible hiker. There is also a risk the SNB dial back its support for the franc in FX markets.

The franc made an almost nine-year high on the euro EURCHF=EBS last week and traded a little softer than that at 0.9455 francs to the common currency on Tuesday.

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	Currency bid prices at 0049 GMT 

 Description	  RIC		 Last		   U.S. Close  Pct Change	 YTD Pct	 High Bid	Low Bid 
											  Previous				   Change				  
											  Session											
 Euro/Dollar	   EUR=EBS																	   

							  $1.0766		 $1.0765	+0.01%		  +0.48%	  +1.0766	 +1.0764 
																								 
 Dollar/Yen		JPY=EBS																	   

							  145.7650		146.1950   -0.27%		  +0.00%	  +146.1600   +145.7350 
																								 
 Euro/Yen		 
				  S>		  156.94		  157.31	 -0.24%		  +0.00%	  +157.3400   +156.8800 
																								 
 Dollar/Swiss	  CHF=EBS																	   

							  0.8779		  0.8787	 -0.08%		  +0.00%	  +0.8785	 +0.8780 
																								 
 Sterling/Dollar   GBP=D3																		

							  1.2562		  1.2555	 +0.00%		  +3.82%	  +1.2562	 +1.2555 
																								 
 Dollar/Canadian   CAD=D3																		

							  1.3571		  1.3574	 -0.01%		  +0.00%	  +1.3579	 +1.3572 
																								 
 Aussie/Dollar	 AUD=D3																		

							  0.6570		  0.6568	 +0.04%		  -3.62%	  +0.6570	 +0.6564 
																								 
 NZ				NZD=D3																		

 Dollar/Dollar				0.6125		  0.6124	 +0.02%		  -3.54%	  +0.6126	 +0.6120 
																								 
																								 
	 
All spots  FX=  
Tokyo spots  AFX=  Europe spots  EFX=   Volatilities  FXVOL=   Tokyo Forex market info from BOJ  TKYFX  
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World FX rates	https://tmsnrt.rs/2RBWI5E 

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