Dollar Hits One-Month High as Rate-Cut Bets Fall

U.S. dollar notes are seen in front of a stock graph in this Nov. 7, 2016 picture illustration. Dado Ruvic/Illustration/Reuters

SINGAPORE/LONDON—The dollar rose on Tuesday as investors tempered their expectations for a March rate cut from the Federal Reserve, while the pound and yen fell as inflationary pressures subsided.

Against a basket of currencies, the dollar rose 0.47 percent to 103.13, a one-month high. It gained 0.2 percent overnight in subdued trading during a U.S. public holiday on Monday.