FILE PHOTO: Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/File Photo
At the same time, escalating geopolitical tensions between Israel and Iran are adding a safe-haven boost to the U.S. currency. Fed Chair Jerome Powell is due to speak later on Tuesday, which may give clues on whether hotter-than-expected consumer price pressures in March and escalating Middle East tensions are likely to sway monetary policy.
The dollar index was last little changed on the day at 106.21, after earlier reaching 106.43, the highest since Nov. 2.The dollar strengthened 0.23 per cent to 154.63 Japanese yen and earlier reached a 34-year high of 154.77.
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