The U.S. dollar was steady near a six-week high on Wednesday as investors come to terms with the possible need for higher interest rates to tackle inflation due to the Iran war, pushing the Japanese yen back into the intervention zone.
The uncertainty over when the Middle East war may end has weighed on sentiment, fanned inflation fears and triggered a global bond selloff, with the yield on the U.S. 30-year Treasury bond hitting its highest level since 2007. [US/]
