US$ inches higher ahead of Fed minutes

London

THE US dollar extended its recovery against a basket of currencies on Wednesday after bouncing back from 7-week lows against the yen and euro on the back of hawkish comments from two Federal Reserve officials in the previous session.

Dealers said some of the bets on a weaker dollar that have dominated the market for the past week were closed after warnings from New York Fed chief William Dudley and Atlanta colleague Dennis Lockhart's that the U…