US dollar nears 10-week high on rate-hike bets

London

THE dollar steadied close to its highest level in ten weeks on Monday, with strong US wages data at the end of last week giving investors confidence that the Federal Reserve will hike interest rates in December.

Sterling was the biggest mover among developed-market currencies, recovering as much as 0.9 per cent on signs that a plot to topple Prime Minister Theresa May would not be successful, easing political uncertainty a touch.