Momentum builds behind dollar as eyes move to jobs data

London

THE dollar inched towards 21/2 month highs against a basket of currencies on Wednesday, buoyed by returning expectations of a rise in US rates and better growth globally, which has prodded yields on US government bonds higher this week.

The euro, a sufferer since the European Central Bank sent a strong message last month on the prospect of more cuts in interest rates and other monetary easing, slid another third of a per cent after a speech by ECB chief Mario Draghi.