Dollar Steady On Bailout Hopes

The dollar rose steadily throughout the day Tuesday and has largely held those gains in early trade Wednesday on hopes that a revised US bailout package would be voted through by the US Senate later tonight.

Senators plan to include a provision that would raise the limit on federal insurance for bank deposits to $250,000 from $100,000, a move demanded by some of the rescue plan's critics.

The dollar is around 3 cents firmer against the pound from early yesterday morning at $1.7815, and $1.4140 against the euro from around $1.45 in early trade Tuesday.