Yen lags while dollar waits on US CPI

By Tom Westbrook SINGAPORE (Reuters) – The yen was squeezed on Thursday, weighed by sluggish Japanese wages, while the dollar was becalmed as traders waited on U.S. inflation data to see whether bets on rate cuts were justified. The yen fell 0.9% on the dollar overnight and 1.2% on the euro after data showed workers’ real wages shrank for a 20th straight month in November – confounding officials wishes to see wage gains before tightening policy. The yen was under gentle pressure at 145.55 per dollar in morning trade and hit a six-week low of 159.99 per euro. The euro…