The U.S. dollar strengthened in late trading on Wednesday.
The dollar index, which measures the greenback against six major peers, went up 0.18 percent to 99.614 at 15:00 (1900 GMT).
In late New York trading, the euro rose to 1.1578 dollars from 1.1569 dollars in the previous session, and the British pound was up to 1.3382 dollars from 1.3366 dollars in the previous session.
The U.S. dollar bought 159.28 Japanese yen, higher than 159.14 Japanese yen in the previous session. The U.S. dollar was down to 0.791 Swiss francs from 0.7918 Swiss francs, and it added to 1.3808 Canadian dollars from 1.3783 Canadian dollars.
The U.S. dollar fell to 9.332 Swedish Kronor from 9.3669 Swedish Kronor.
U.S. dollar ticks up
U.S. stocks finished higher on Wednesday as investors weighed emerging reports that the United States approached Iran with a 15-point ceasefire plan.
The Dow Jones Industrial Average rose 305.43 points or 0.66 percent to 46,429.49. The S and P 500 added 35.53 points or 0.54 percent to 6,591.90. The Nasdaq Composite Index increased 167.93 points or 0.77 percent to 21,929.83.
Nine of the 11 primary S and P 500 sectors ended in green, with materials and consumer discretionary leading the gainers by adding 1.97 percent and 1.18 percent, respectively. Energy and real estate went down 0.53 percent and 0.04 percent, respectively.
The geopolitical developments dominated market sentiment after U.S. media reported that a ceasefire plan had been transmitted to Iran. Citing unnamed officials in Islamabad, subsequent reports indicated that Iran received a 15-point proposal from the United States, reportedly delivered through Pakistani diplomatic channels.
Oil prices reacted swiftly to the initial diplomatic reports, with oil futures sinking before paring some of their losses by Wednesday afternoon. West Texas Intermediate futures, the U.S. oil benchmark, declined 2.2 percent in recent trading to settle at 90.32 U.S. dollars a barrel. Meanwhile, the international benchmark Brent crude futures dropped to 102.22 dollars a barrel, down from Tuesday's close of 104.49 dollars.
In the equities market, the technology sector provided robust support for the broader rally. Most of the "Magnificent Seven" technology giants finished higher, rebounding from a broadly negative performance in the previous session. Amazon and Nvidia led the mega-cap group, each rising around 2 percent. Furthermore, Intel and Advanced Micro Devices led a broader surge among semiconductor equities following media reports that both chipmakers are preparing to raise their product prices.
U.S.-listed shares of semiconductor design firm Arm Holdings soared 16.38 percent to pace the Nasdaq after the company unveiled its first in-house chip and issued highly optimistic revenue projections. Satellite services provider EchoStar surged 7.43 percent following reports that SpaceX, in which it holds a stake, is aiming to file for an initial public offering as soon as this week.
JetBlue Airways jumped 13.37 percent following media reports that the carrier is actively exploring potential merger partners. Terns Pharmaceuticals rose 5.72 percent after agreeing to a 6.7 billion-dollar cash acquisition by Merck.
Following the earnings, shares of online pet retailer Chewy jumped 13.3 percent.
U.S. stocks finish higher on reports over Middle East
