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Dollar rises as Republicans back John Taylor for Fed chief

The dollar also got support from the yield on the US

Ritvik Carvalho  |  London 

The dollar got a lift on Wednesday after a report that Republican senators were leaning towards John Taylor to be the next Federal Reserve chief, while share markets turned flat after a run of highs. Sterling got a boost after data showed Britain’s economy picked up speed in the third quarter, bolstering the case for the Bank of England to raise UK interest rates next week for the first time in more than a decade. On Tuesday, a source familiar with the matter said US President Donald Trump had polled Republicans on whether they would prefer Stanford University ...

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First Published: Thu, October 26 2017. 02:38 IST