The US dollar rose for a fourth consecutive session on Tuesday, supported by higher oil prices as escalating tensions in the Middle East fueled concerns that inflationary pressures could persist for longer.

The US Dollar Index, which measures the greenback against a basket of major currencies, gained 0.17% to 101.16.

The euro fell 0.11% to $1.1402, while the British pound declined 0.39% to $1.3376, marking its fourth consecutive daily loss, according to Reuters data.

The Japanese yen also weakened 0.41% to 163.14 per dollar, trading beyond the 163 level for the first time since December 1986 as investors watched for any signs of intervention by Japanese authorities to support the currency.

Currency markets remained focused on escalating geopolitical risks in the Middle East, where continued military confrontations have pushed oil prices higher, raising concerns over global energy supplies and the persistence of inflationary pressures.

The dollar's gains followed a ninth consecutive night of US airstrikes on Iran, reinforcing demand for the greenback as one of the market's preferred safe-haven assets during periods of heightened geopolitical uncertainty.