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Dollar steady as investors weigh Middle East jitters against softer inflation data
['Chuck Mikolajczak', 'July', 'Min Read']
Yahoo Finance
By Chuck MikolajczakNEW YORK, July 21 (Reuters) - The U.S. dollar climbed on Tuesday and was poised for a fourth straight session of gains, as the latest round of attacks in the Middle East pushed oil prices higher and stoked concerns about persistent inflation.
The U.S. military said on Monday that it finished its latest round of strikes on Iran, marking its 10th straight night of attacks.
But oil prices have reversed in recent days as tensions in the region have flared, and comments from multiple Fed officials, including Chairman Kevin Warsh, have flagged concerns about inflation pressures.
The dollar index, which measures the greenback against a basket of currencies, rose 0.17% to 101.16, with the euro down 0.11% at $1.1402.
A senior Iranian official told Reuters on Monday that Tehran had received a proposal from mediators for a 10-day ceasefire.