Dollar Reaches One Month High as Sentiment Nervous, Pound Jumps on Inflation Data

U.S. dollar banknotes on Feb. 14, 2022. Dado Ruvic/Reuters

LONDON/TOKYO—The dollar hit a one-month high against a basket of its peers on Wednesday as the safe haven gained on the hit to sentiment from soft Chinese data and global rate setters arguing against imminent cuts, while sterling rose on higher British inflation.

The dollar index reached 103.58, its highest since December 13, extending gains after a 0.67 percent jump on Tuesday. It was last up a fraction on the day at 103.34.