The U.S. dollar increased in late trading on Wednesday.
The dollar index, which measures the greenback against six major peers, gained 0.04 percent to 99.21 at 15:00 (1900 GMT).
In late New York trading, the euro declined to 1.1631 U.S. dollars from 1.1635 dollars in the previous session, and the British pound declined to 1.3430 U.S. dollars from 1.3445 dollars in the previous session.
The U.S. dollar bought 159.51 Japanese yen, higher than 159.33 Japanese yen of the previous session. The U.S. dollar rose to 0.7868 Swiss francs from 0.7857 Swiss francs, and it increased to 1.3835 Canadian dollars from 1.3813 Canadian dollars. The U.S. dollar decreased to 9.2972 Swedish kronor from 9.3198 Swedish kronor.
U.S. dollar ticks up
The world faces a potential food security crisis unless action is taken on shipping disruptions in the Strait of Hormuz, warned director-general of the UN Food and Agriculture Organization (FAO) Qu Dongyu on Tuesday in Rome.
The FAO said in a statement that serious disruptions to shipping in the Strait of Hormuz have hampered deliveries of oil, liquefied natural gas, and fertilizers, pushing up agricultural input costs.
Seed prices are also rising because seed production relies on fertilizers. Higher energy costs, the agency added, have driven up operating expenses for agrifood systems worldwide.
Regional tensions have escalated since the United States and Israel launched joint attacks on Iran in late February, triggering retaliation from Tehran against Israel as well as U.S. bases and assets in the Middle East, along with the closure of the Strait of Hormuz.
The blockade of the Strait of Hormuz, a critical strategic corridor handling one-quarter of global seaborne oil trade, as well as significant volumes of liquefied natural gas and vital fertilizers, have throttled global energy flows and caused fertilizer prices to spike.
Disruption in Strait of Hormuz could trigger global food security crisis: FAO
