Dollar ticks up on Iran tensions, with US data in focus

Aug 12 : The U.S. dollar ticked higher on Wednesday, underpinned by renewed Gulf tensions, with markets focused on upcoming U.S. economic data for signals on the Fed's policy trajectory.Oil prices edged up after the United States and Yemen's Iran-aligned Houthis reported separate attacks on shipping on Tuesday, with Tehran saying the Strait of Hormuz would remain closed unless Washington accepts its conditions. Investors buy the safe-haven dollar when concerns about the economic impact of the energy shock from the Iran war intensify.Analysts said Friday's soft U.S. jobs data did not weigh heavily on the greenback as markets expect inflation to drive the next Federal Reserve interest rate move. Fed Bank of Chicago President Austan Goolsbee supported this view on Tuesday by saying he was mor