US$ stalls; pound, A$ stay under pressure

London

THE US dollar settled just below a seven-week high on Thursday as investors consolidated positions though the economic outlook kept sterling and the Australian dollar under pressure.

While the US dollar has gained almost 3 per cent over the last month against a basket of currencies, thanks to a raft of supportive news ranging from robust data to potential US tax reforms, analysts say gains have been too meagre and there is more room for gains.