Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Asian Stocks Slide as Oil Surge Fuels Rate Hike Fears 
UK Businesses Urge Government to Cut Electricity Levies 
Gold Prices Steady as Hot PPI Boosts Fed Rate Hike Bets 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
US Treasury Yields Near 5% as Oil Fuels Inflation Fears 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Asian Currencies Subdued as Yen Weakens Ahead of Fed, BOJ Decisions 
UK Economy Grows 0.4% in July, Beating Forecasts 
China Inflation Accelerates in August as CPI, PPI Rise 
Oil Prices Surge as Middle East Shipping Attacks Threaten Supply 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
Fitch Eyes Japan Budget for Fiscal Discipline 
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The U.S. dollar hovered near a two-week high on Wednesday as escalating Middle East tensions pushed oil prices higher, fueling inflation concerns and lifting global bond yields.
The dollar index rose 0.11% to 99.79, its strongest level since August 17, while the euro slipped 0.14% to $1.1576. Higher U.S. Treasury yields and expectations for another Federal Reserve rate hike strengthened demand for the greenback as a safe-haven currency.
Market concerns intensified after the United States launched airstrikes against Iran on Tuesday, prompting retaliation from Tehran in the most serious escalation in weeks.
Oil prices extended their gains, with Brent crude futures rising 0.75% to $95.36 per barrel and U.S. West Texas Intermediate crude gaining 0.41% to $90.62.
The benchmark U.S. 10-year Treasury yield climbed as high as 4.812%, its strongest since November 2023, before easing to 4.804%. Japan's 10-year government bond yield reached 3.01%, extending gains after crossing 3% on Tuesday.
Meanwhile, the New Zealand dollar tumbled 1.01% to $0.5844 despite the Reserve Bank of New Zealand raising its official cash rate by 25 basis points to 2.75%. Investors viewed the decision as less hawkish than anticipated.
Expectations for tighter U.S. monetary policy also remained elevated. Markets now price a 68% probability of a Fed rate hike in September, up from roughly 40% a week earlier, according to CME FedWatch.
Investors are awaiting August employment and inflation figures ahead of the Fed's September 15-16 meeting. Economists expect Friday's jobs report to show the U.S. economy added 56,000 positions in August.
Elsewhere, the British pound fell 0.15% to $1.3495, while the Australian dollar declined 0.15% to $0.7133.
The Japanese yen traded around 160.15 per dollar despite expectations for a Bank of Japan rate hike this month. The currency remains under pressure as elevated oil prices and widening yield dynamics outweigh the impact of recent U.S.-Japan intervention.
In cryptocurrency markets, Bitcoin edged 0.07% higher to $77,485.49, while Ether slipped 0.27% to $2,413.74.
