US$ steadies, offshore yuan hits record low

London

THE US dollar steadied near a recent peak on Wednesday, taking a breather ahead of the US Thanksgiving holiday after surging on expectations that a Donald Trump administration will boost growth and inflation, pushing up US interest rates.

The dollar index - which tracks the greenback against six major currencies - has climbed over 3 per cent since Mr Trump's victory two weeks ago, but has edged slightly lower this week after reaching its highest levels since early 2003.