US$ steadies, sterling falls to 7-week low

London

THE dollar steadied against a basket of currencies on Tuesday, still stuck below highs hit in December and January after two weeks in which expectations for a rise in US interest rates this month have soared.

A fall for sterling to a seven-week low and a yo-yo performance for the Australian dollar after a meeting of the country's Reserve Bank grabbed the most attention in a morning session in Europe marked by minimal moves in major currencies.