Dollar scales 4-week peak

The dollar scaled a four-week peak against major peers on Thursday after upbeat labour market data a day earlier, while sterling edged lower ahead of an expected rate hike from the Bank of England.

Data out on Wednesday showed US private payrolls rose more than expected in July, while plans by the US Treasury to increase the size of government bond auctions in the third quarter pushed longer-dated US Treasury yields higher and boosted the dollar.

"In a world where the US continues to perform and avoids a hard landing while the rest of the world is struggling, it's an environment which is going to keep the dollar elevated," Barclays FX strategist Lefteris Farmakis said.

The dollar index, which measures the currency against six major peers, rose as high as 102.84, the highest level in four weeks. It was last up 0.1 percent at 102.68, extending Wednesday's 0.5 percent gain.