Greenback hovers at lower end of recent gains

London

THE US dollar hovered at the lower end of recent gains on Wednesday as traders looked to upcoming US inflation data and a European Central Bank (ECB) meeting to gauge the pace of global recovery and policymakers' thinking about paring back stimulus.

Investors have piled up bets against the US dollar, but are growing nervous about whether the beginning of the end of enormous monetary stimulus is nigh - and worry that interest rate rises could end a 15-month dollar downtrend.