Currency Buzz: Dollar index holds around 101 mark

The US dollar index is lingering around 101 mark, consolidating near one-week high. The index moved higher on Tuesday as the escalation of hostilities between the US and Iran pushed up crude oil prices, which raises inflation expectations that could prompt the Fed to tighten monetary policy. Dollar also eyed elevated treasury yields. The US and Iran continued to exchange strikes though US equities largely saw a steady upmove. The index currently trades is flat around 100.98 right now.

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