US$ struggles near 6-week lows

London

THE US dollar struggled to break away from six-week lows against a basket of currencies on Wednesday, kept under pressure by the view that the US Federal Reserve will raise interest rates later rather than sooner.

The greenback had been on its best run of weekly gains in 1-1/2 years until last week, when expectations that the Fed would clearly signal a near-term rate hike were disappointed, and US growth data came in much weaker than expected.