Fed official's comments push up greenback

Singapore

COMMENTS from the Federal Reserve's vice president that he expects a US interest rate hike this year pushed up the US dollar against most emerging market currencies on Monday after seeing big losses last week.

The greenback has seen heavy selling pressure since data at the beginning of the month showed jobs growth slowed in September, raising concerns about the recovery in the world's No 1 economy. And the release of minutes last week from the Fed's latest policy meeting showed board members could delay because of worries about the global outlook.