Dollar Remains Stable Ahead of US Inflation Data as Yen Comes Under Pressure

The dollar remained stable ahead of the release of U.S. inflation data, with markets watching for the impact of rising oil prices, which increased by over 9% in the past two days after escalating tensions between the United States and Iran. The dollar index stayed at 101.27, while the euro and the British pound remained largely unchanged against the dollar. The Japanese yen steadied at 162.40 against the dollar, amid expectations that Japanese authorities will intervene to support the currency. Additionally, oil prices saw notable increases due to geopolitical tensions, as investors focus on the upcoming inflation data and the Federal Reserve Chairman's performance before Congress.