Dollar aided by hawkish Fed; sterling eyes big BoE rate hike

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Reuters UK

By Dhara Ranasinghe LONDON (Reuters) – The dollar held onto recent gains against other major currencies on Thursday, as more Federal Reserve officials reinforced the central bank’s determination to slay the highest inflation in decades with aggressive interest rate hikes. The Bank of England meanwhile was widely expected to raise interest rates by the most since 1995, with sterling edging up ahead of the rate decision at 1100 GMT. Fed officials continued to push back against the perception that U.S. interest rates were close to peaking. That supported the dollar. San Francisco Fed President Ma…

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