FOREX-Dollar hits one-month high as rate-cut bets fall

SINGAPORE/LONDON, Jan 16 (Reuters) – 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%to 103.13, a one-month high. It gained 0.2% overnight in subdued trading during a U.S. public holiday on Monday. The euro fell 0.54% to $1.0892, set for its steepest one-day percentage drop in two weeks. Comments from European Central Bank officials downplaying the idea of early rate cuts overshadowed the outlook for borrowing costs globally. The ECB’s Joachim Nagel said it was too early to talk about cuts, and his Austrian colleague Robert Holzmann said markets should not…