US dollar off highs as investors seek more guidance

London

THE US dollar held firm on Tuesday, just below the previous day's high as investors focused on the next set of US data to see whether it supports expectations that the Federal Reserve will raise interest rates soon.

Despite hawkish comments last week from both Fed chair Janet Yellen and vice-chair Stanley Fischer, markets still price in less than 50 per cent chance of a rate rise in September. The next key indicator is Friday's jobs report while Mr Fischer, who said that the data could weigh on the decision over a hike, was due to speak again later on Tuesday in a television interview.