US$ at week's peak after Fed tiptoes towards rate move

London

THE dollar rose to its highest level this week on Thursday after the US Federal Reserve took another small step towards raising interest rates, reinvigorating those betting on another surge for the dollar if and when the Fed delivers.

As expected, the Fed gave no clear indication on timing but what it did say was enough to encourage those analysts who have been sticking with forecasts for a September rate rise even as the market priced them out in recent weeks.