Dollar Edges Higher Ahead of ECB Rate Hike and US Inflation Data

The US dollar index rose by 0.13% on Thursday as investors awaited European Central Bank (ECB) rate hike and US inflation data.

Oil prices climbed 1.5% to $102.72 a barrel, with the biggest wave of shipping attacks by Iran and the US since the war began affecting Gulf energy flows.

The ECB is expected to raise euro zone rates for the second time since late February, in response to renewed inflation concerns ahead of European winter.