The U.S. dollar softened in late trading on Tuesday.
The dollar index, which measures the greenback against six major peers, dropped 0.35 percent to 97.942 at 15:00 (2000 GMT).
In late New York trading, the euro advanced to 1.1790 dollars from 1.1755 dollars in the previous session, and the British pound added to 1.3497 dollars from 1.3458 dollars in the previous session.
The U.S. dollar bought 156.20 Japanese yen, lower than 156.92 Japanese yen in the previous session. The U.S. dollar decreased to 0.7877 Swiss francs from 0.7918 Swiss francs, and it fell to 1.3694 Canadian dollars from 1.3747 Canadian dollars. The U.S. dollar dropped to 9.1684 Swedish kronor from 9.2396 Swedish kronor.
U.S. dollar ticks down
U.S. dollar ticks down
Impact of the U.S.-Israeli war with Iran is pushing Gulf countries to revisit costly plans for pipelines to bypass the Strait of Hormuz, so that they can continue to export oil and gas, the Financial Times newspaper reported on Thursday.
"Officials and industry executives say new pipelines may be the only way to reduce Gulf countries' enduring vulnerability to disruption in the strait, even though such projects would be expensive, politically complex and take years to complete," said the report.
"Previous plans for pipelines across the region have repeatedly stalled, undone by high costs and complexity," it said.
The Strait of Hormuz is a vital global energy corridor bordered by Iran to the north.
Around a fifth of global liquefied natural gas supply passed through the Strait of Hormuz, which also carries about one quarter of global seaborne oil trade.
Israel and the United States launched joint attacks on Tehran and several other Iranian cities on Feb. 28, killing Iran's then Supreme Leader Ali Khamenei, along with senior military commanders and civilians. Iran responded with waves of missile and drone strikes against Israel and U.S. assets in the Middle East, while tightening control over the Strait of Hormuz by restricting passage to vessels belonging to or affiliated with Israel and the United States.
Gulf countries consider new pipelines to avoid Strait of Hormuz: Financial Times
