The US Dollar Index eased about 0.1% to around 101.2

The U.S. dollar traded little changed against most Asian currencies on Tuesday as investors awaited U.S. inflation data and comments from central bank Governor Christopher Waller for new clues on the interest-rate outlook, while renewed Middle East tensions kept oil prices near four-week highs and inflation risks firmly in focus.

The US Dollar Index eased about 0.1% to around 101.2 as traders largely stayed on the sidelines ahead of the June consumer price report. Markets are also awaiting producer price data later this week and Waller’s remarks for further guidance on whether persistent inflation could keep the central bank on a hawkish path.

Oil prices jumped after the U.S. p said Washington would reinstate a naval blockade on Iran, raising new concerns over international energy supplies after renewed strikes in the Gulf. The move reinforced inflation concerns but did little to shake broader currency markets ahead of the U.S. data.

Asian currencies were mixed as investors digested a new batch of economic data.

USD/KRW traded largely flat at around 1,496, extending Monday’s recovery after the sharp selloff in Korean assets, while USD/TWD was little changed as Taiwan’s currency stabilised following recent foreign outflows from AI-related technology stocks.

USD/AUD edged down about 0.2% after Australia’s Westpac Consumer Sentiment Index added 4.1% in July and the latest NAB survey showed business confidence improving. Even so, consumer sentiment remained well below the neutral 100 level, indicating households remain cautious despite signs business conditions have stabilised.

China’s June trade data comfortably exceeded expectations, with exports rising 27.0% year on year and imports jumping 36%, lifting the trade surplus to $125.6 billion. Even so, USD/CNY was little changed while offshore USD/CNH edged slightly lower as investors shifted their focus to upcoming credit growth and lending data.

USD/SGD edged marginally lower after Singapore’s preliminary second-quarter GDP topped expectations, while USD/INR jumped almost 0.7% ahead of India’s wholesale inflation and trade data due later in the session.

USD/NZD declined almost 0.7%, making the New Zealand dollar one of the region’s strongest performers after Reserve Bank of New Zealand Chief Economist Paul Conway warned that persistent inflation pressures and renewed Middle East tensions could require further monetary policy tightening if businesses continue passing higher costs on to consumers.

The USD/JPY pair traded little changed near 162.3 after briefly easing earlier in the session, with traders remaining alert for possible intervention as Japanese authorities stepped up discussions around state pension fund investment policy.