The U.S. dollar's advance against other G-10 currencies was tempered on Tuesday afternoon as oil prices declined. The Bloomberg Dollar Index reached an intraday high following reports that the U.S. plans to deploy approximately 3,000 soldiers from the 82nd Airborne Division to the Middle East. Reports of a potential ceasefire also emerged. The Bloomberg Dollar Index climbed 0.3%, after having risen as much as 0.5% earlier in the session. This marked the index's strongest single-day performance since March 20. Goldman Sachs indicated that dollar strength would likely diminish if a conflict involving Iran negatively impacts economic growth. Isabella Rosenberg of Goldman Sachs noted in a report that while markets have largely viewed an oil price shock as an inflation and terms-of-trade event, a shift in focus toward greater downside growth risks would probably weaken the dollar's broad-based gains against G-10 currencies. According to preliminary estimates from ADP Research and the Stanford Digital Economy Lab, U.S. private sector employment increased by an average of 10,000 jobs per week over the four weeks ending March 7. Business activity growth in the U.S. slowed in March to its lowest level in nearly a year. Data released on Tuesday showed the S&P Global composite output index preliminary reading for March fell 0.5 points to 51.4. A reading above 50 indicates expansion. The Australian dollar fell 0.2% against the U.S. dollar to 0.6996, ahead of the release of Australian inflation data. Options traders increased bearish bets on the Australian dollar for a fifth consecutive day. James McIntyre of Bloomberg Economics suggested that Australia's February CPI report would likely show inflation persisting above the central bank's 2%-3% target band. The New Zealand dollar declined 0.3% against the U.S. dollar to 0.5840. The Reserve Bank of New Zealand Governor signaled that policymakers are not rushing to raise interest rates due to the Middle East conflict, indicating a willingness to wait for the spike in fuel prices to subside, provided the disruption does not intensify broader inflationary pressures. The euro fell 0.1% against the U.S. dollar to 1.1604. As tensions involving Iran drive inflation higher and threaten a nascent economic recovery, eurozone private sector activity recorded its slowest growth rate since May of last year. The U.S. dollar rose 0.1% against the Japanese yen to 158.64. Japanese Prime Minister Sanae Takaichi ordered a comprehensive assessment of the supply chain for oil-related products in response to the potential impact of a conflict involving Iran. The U.S. dollar advanced 0.3% against the Swiss franc to 0.7886. Swiss National Bank Chairman Martin Schlegel stated that the readiness to intervene in foreign exchange markets has increased.