Dollar near one-month low as cooling inflation curbs Fed hike bets
TLT•Middle East tensions keep oil near one-month highs
The 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. struck Iran's coastal defences and missile sites on Wednesday after re-imposing a naval blockade of its ports, while Iran threatened to shut off more regional energy exports, saying it was engaged in an "existential war" with America.
Oil prices rose for a fourth consecutive day on Thursday, with Brent crude futures last trading near a one-month high at $85.28 a barrel.
Producer prices add to evidence of easing inflation
U.S. producer prices unexpectedly fell in June, in their biggest decline in 14 months, adding to evidence that inflation was easing before the latest flare-up in the Middle East.
