The dollar remained stable in Asian trading on Wednesday, as investors awaited the release of U.S. inflation data.
This data may provide new clues regarding the Federal Reserve’s interest rate path.
Amid escalating tensions in vital waterways in the Middle East.
The Japanese yen remained stable against the dollar at around 159.275 yen, near its lowest level in a month.
This was despite recent joint U.S.-Japanese intervention to prop it up.
The euro also stabilized at $1.1542, and the British pound at $1.3508.
The Australian dollar traded at $0.7064, while the New Zealand dollar stood at $0.5879.
Markets are awaiting U.S. inflation data to gauge monetary policy trends, especially following weak jobs data and ongoing uncertainty regarding interest rate cuts.
In energy markets, Brent crude rose 0.6% to $89.40 per barrel.
This comes amid security developments in the Bab al-Mandab Strait and the Strait of Hormuz.
As for cryptocurrencies, Bitcoin fell 0.2% to $63,554.30, and Ether dropped 0.1% to $1,879.62.
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