Dollar Near 14-Month High to Euro, Focus on Inflation

U.S. one hundred dollar notes in a photo illustration taken in Seoul, South Korea, on Feb. 7, 2011. Lee Jae-won/Reuters

LONDON—The dollar held close to a 14-month high against the euro on Thursday, as a surge in energy prices raised the risk for the U.S. Federal Reserve to act sooner to normalise policy.

The U.S. currency was slightly lower at $1.1563 per euro after strengthening to $1.1529 on Wednesday for the first time since July of last year.