US$ stuck after hitting 7-month high

London

THE US dollar struggled to make further progress after hitting a seven-month high against the euro on Tuesday while sterling was bolstered by a better than expected readout on core inflation ahead of US numbers later in the day.

An early surge by the US dollar, building on Monday's 0.5 per cent gain, offered hope of an attack on levels around US$1.06 against the euro, which dealers said is the main barrier to a swift move back to highs reached in the first half of 2015.