Dollar rises on upbeat remarks by Fed officials

London

THE US dollar rose against a basket of currencies on Tuesday, underpinned by upbeat comments from two influential Federal Reserve officials who emphasised the positive impact on the US economy from a decline in oil prices.

While that will keep alive expectations that the Fed may start to tighten policy in the middle of 2015, both the European Central Bank (ECB) and Bank of Japan (BOJ) are grappling with the threat of deflation and the sharp fall in oil prices has only added to their concerns.