Dollar Holds Steady Amid Waterway Tensions, Eyes US Inflation Data

The US dollar and major currencies experienced stability at the start of Asian trading on Wednesday, despite new attacks targeting vessels in critical Middle Eastern waterways.

Cryptocurrencies declined modestly, with Bitcoin falling 0.2% to $63,554.30 and Ethereum declining 0.1% to $1,879.62.

The dollar's stability came ahead of the release of US inflation data later on Wednesday, which is expected to provide signals about the Federal Reserve's interest rate path.

The Japanese yen remained unchanged against the US dollar at 159.275 yen, hovering near its lowest level this month despite recent coordinated intervention by US and Japanese authorities aimed at supporting the yen.