US$ builds on rally as Fed prepares ground for Dec lift-off

London

THE dollar hit a three-month high against a basket of major currencies on Thursday, bolstered by comments from influential Federal Reserve officials who kept chances of an interest rate hike in December alive.

US two-year Treasury yields rose to their highest in 41/2 years and spreads over their German counterparts widened to their maximum since late 2006, boosting the allure of the dollar to investors.