Mumbai, June 20 -- The Japanese yen stays upbeat against the dollar on Friday following higher inflation data that increases possibility of rate hike by BoJ. Data released earlier today showed that Japan's annual consumer price index (CPI) remained well above the Bank of Japan's (BoJ) target of 2% in May. Japan's consumer prices excluding fresh food quickened for a third month to 3.7% from a year earlier in May, according to a Ministry of Internal Affairs released Friday. That's the fastest pace since January 2023. Food inflation was again a major driver, with the price of rice - the nation's staple food - jumping 102% from a year earlier. Service prices, a metric closely watched by the BOJ, rose 1.4% from a year earlier, slightly more th...