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ES
Dollar Steady as Markets Await U.S. Inflation Data
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The U.S. dollar traded mostly flat in early Asian trading on Wednesday as investors focused on upcoming U.S. inflation data for clues about the Federal Reserve’s next interest-rate decision.
Renewed attacks on shipping routes in the Middle East had limited impact on currency markets, although higher oil prices remain a key risk for inflation.
Among commodity-linked currencies, the Australian dollar remained near $0.7064 and the New Zealand dollar traded around $0.5879.
Brent crude rose about 0.6% to $89.40 a barrel after fresh attacks disrupted shipping near the Bab el-Mandeb Strait and the Strait of Hormuz.
Federal Reserve Bank of Chicago President Austan Goolsbee said inflation remains a greater concern than labor-market weakness, adding to uncertainty about future policy.