US$ hits 3-week high on rate hike expectations

Paris

THE dollar hit a three-week high on Tuesday, boosted by comments from the US Federal Reserve bolstering expectations that it would keep raising interest rates, while sterling skidded on the opposite message from the Bank of England.

The British pound fell almost a cent against its US counterpart after BOE governor Mark Carney said that now was not the time to raise UK interest rates. Last week, three BOE policymakers voted in favour of a hike.