US$ climbs on Fed talk, sterling under pressure

London

THE US dollar pulled away from 4-1/2-month lows on Wednesday after solid data backed expectations for more US interest rate hikes this year, while the sterling dipped as Britain moved to launch its exit from the European Union.

The dollar index, which tracks the greenback against six major rival currencies, rose to 99.854, up 0.2 per cent. It managed to crawl off a low of 98.858 hit earlier this week, its weakest level since Nov 11, in the wake of US President Donald Trump's failed healthcare bill.