The dollar was little changed against the yen on Thursday holding on to gains from yesterday as U.S. stocks rose on consumer prices which rose less than expected, alleviating inflation worries.

The dollar was at 105.02 yen at 11:31 a.m. in Tokyo, compared with 105.04 yesterday. The U.S. currency was at 1.5456 per euro. The yen traded at 162.31 from 162.52 yesterday.

Yesterday, the U.S. Labor Department reported that consumer prices rose less than economists' expectations. The consumer price index rose 0.2 percent in April, after gaining 0.3 percent in March. Economists had forecast an 0.3 percent gain in April. The Dow Jones Industrial Average rose 0.5 percent.

Investors trading futures on the Chicago Board of Trade are anticipating a 92 percent chance that the Federal Reserve will keep rates steady when it holds its next policy meeting in late June, Bloomberg reported.

Inflation