US$ recovers some ground after 5 days of falls

London

THE US dollar rebounded on Wednesday after falling for five days in a row against its currency basket, as investors awaited a speech by the head of the Federal Reserve later in the day and looked to US inflation data for clues on the path of interest rates.

After a volatile Tuesday on which sterling rose more than 3 per cent for its best showing against the dollar since at least 1998, currency markets were calmer on Wednesday, with most of the previous day's …