Dollar in focus: The Dollar approached the major threshold of 150 yen on Tuesday, maintaining stability as investors awaited crucial US inflation data later in the day. 

Meanwhile, bitcoin retained its buoyancy around the $50,000 mark for the second consecutive day.

Amid subdued trading in Asia, with Lunar New Year holidays ongoing in China and Hong Kong, market participants remained cautious ahead of the release of consumer price data in the United States, the world's largest economy.

The greenback advanced towards 149.39 yen, inching closer to the closely monitored 150 level, which analysts predict could prompt further verbal intervention from Japanese authorities to bolster the currency. 

The yen has already depreciated over 5 per cent against the Dollar since the beginning of the year, driven by diminishing expectations of aggressive rate hikes by the Federal Reserve and indications that the Bank of Japan may not rush into raising rates despite potential moves away from negative interest rates.

Currency analysts attribute the Dollar's strength against the yen to factors such as rising US yields and favourable carry trades. 

The euro dipped slightly to $1.0768, while sterling and the Australian Dollar also experienced marginal declines.

Market focus remained on the US inflation report for January, which could offer insights into the timing and extent of potential rate cuts by the Federal Reserve this year.

Expectations of sustained US economic strength have tempered projections for rate cuts, with markets currently pricing in around 110 basis points of reductions from May onwards.

In the cryptocurrency realm, bitcoin continued its upward trajectory, gaining 0.64 per cent to reach $50,155. 

The cryptocurrency's recent surge has been attributed to regulatory approvals for US-listed ETFs tracking its price and anticipation surrounding the forthcoming halving event, which will reduce mining rewards.

Overall, the US Dollar's resilience against global currencies reflects investor confidence in the nation's economic outperformance compared to other regions. 

Meanwhile, the New Zealand Dollar eased slightly to $0.6121 amidst the broader currency market dynamics.

(With Reuters Inputs)