FOREX-Yen falls broadly after tame CPI data, stocks rise

(Recasts; adds comments, updates prices, changes byline)

* Yen falls broadly as U.S. CPI data boost risk demand

* CPI rises at an unexpectedly slower pace in April

* CPI does not change views Fed on pause

By Vivianne Rodrigues

NEW YORK, May 14 (Reuters) - The yen eased broadly on Wednesday as a tame U.S. consumer inflation report for April boosted stocks and raised investor appetite for risk.

The unexpectedly slow increase in the consumer price index (CPI) briefly caused traders to sell the dollar, but analysts said it did not alter market views that the Federal Reserve's cycle of interest rate cuts was almost over.

"The market looked at it as a positive for risky assets, namely that it takes a little bit of stress off the inflation outlook and gives the Federal Reserve more flexibility in terms of the economic outlook," said Brian Dolan, chief currency strategist at Forex.com in Bedminster, New Jersey.

The dollar jumped to a session high of 105.44 yen <JPY=>, with Wall Street stocks surging as inflation worries eased. The greenback last traded at 105.02 yen, up 0.2 percent on the day.  Continued...