US$ recovers after Fed official quells rate rise chatter

London

THE US dollar recovered ground in Europe on Tuesday, having dipped the previous day following a speech by Federal Reserve policymaker Lael Brainard that solidified the view that US interest rates are unlikely to rise this month.

There had been much speculation among traders that the speech by Ms Brainard, announced at the last minute before the US central bank's pre-meeting blackout period, could see one of its most convinced policy doves flip to support monetary tightening.