By Samuel Indyk and Jiaxing Li LONDON, July 15 The dollar was steady on Wednesday as investors balanced renewed U.S. strikes on Iran against softer-than-expected inflation data that reduced expectations of a near-term Federal Reserve interest rate hike.
The dollar was little changed at 162.34 yen
The euro held at $1.1418, while sterling traded at $1.3399. The U.S. dollar index, which tracks the currency against six major peers, edged up less than 0.1% to 100.97. It fell 0.4% in the previous session, its biggest decline in nearly two weeks, after touching its highest level since July 2.
EYES ON THE MIDDLE EAST The latest escalation in hostilities between the U.S. and Iran kept oil prices near one-month highs, maintaining pressure on the inflation outlook. The U.S. military said it had begun a new wave of strikes on Iran at 6 a.m. ET (1000 GMT) on Wednesday, after U.S.