Asian stock markets traded sideways on Tuesday due to the dollar’s retreat due to pushback from Chinese and Japanese central banks and speculators waiting for U.S. inflation data to indicate a peak in interest rates.

The yen hit its best level versus the dollar in two months overnight, and the yuan enjoyed its best day in six months as officials committed to rectify one-way swings.

Both remain at their worst levels of the year, with the yuan at 7.3022 per dollar in offshore trade and the yen off Monday highs at 146.68.

The Nikkei climbed 0.3% as investors anticipated U.S. inflation data and this week’s European Central Bank meeting to establish interest rate expectations and mood.

Interest-rate futures markets predict a 45% possibility of another U.S. rate hike this year.