US$ treads water as market awaits Fed clues

London

THE US dollar crept up on Wednesday after falling the previous day but was unable to break out of recent trading ranges, as investors eyed a meeting of central bankers on Friday for clues on when the US Federal Reserve will hike interest rates again.

Policymakers from across the globe will gather in the US mountain resort of Jackson Hole at the end of the week, where the focus lies squarely on a speech by Fed chair Janet Yellen. She should provide a steer on when the Fed will follow up last December's rate hike - the first in almost 10 years.