US dollar steadies at 97.98 as Middle East talks stall
The US dollar held its ground on Tuesday, even as peace talks in the Middle East hit a wall and worries about renewed fighting grew.
The dollar index sat at 97.98, with investors leaning on it as a safe bet.
Currency strategist Christopher Wong noted that while recent events have only slightly helped the dollar, any fresh military escalation could shake up markets much more.
US inflation 0.6% as oil climbs
Everyone's watching for new US inflation numbers, expected to show a 0.6% jump for April, thanks in part to rising energy costs spilling over into things like food and travel.
Oil prices are climbing too: Brent crude is up to $104.55 per barrel and US West Texas Intermediate is at $98.17, both pushed higher by disruptions at the Strait of Hormuz after the April ceasefire was fragile.