The dollar pushed back up against major currencies ahead of US services ISM figures this afternoon, which should give further evidence that the US economy continues to grow at a solid pace. The dollar dipped against the euro earlier in the day as US oil prices rose back above 60 usd per barrel on concerns that tropical storms in the US could disrupt supply, but later rebounded as the market turned its attention to forthcoming data and the prospect of further Fed rate hikes. "The non-manufacturing ISM report is released today and again there is upside risk to this report, which should further boost the dollar and improve the cyclical outlook," said HBOS currency analyst Steve Pearson. Focus this week will also centre on Friday's crucial US non-farm payrolls data, which are expected to show a solid improvement in employment numbers. Elsewhere, the pound remained weak on expectations that the Bank of England's Monetary Policy Committee will cut interest rates soon, shrugging off this morning's better-than-expected manufacturing data. The MPC will announce this month's decision tomorrow, and although the market expects rates to be left on hold at 4.75 pct, it is on alert to the risk of a surprise cut tomorrow. "The pound is under pressure as the market speculates that the MPC will cut rates as early as tomorrow," said UBS analyst Mansoor Mohi-uddin. Digby Jones, head of the Confederation of British Industry, waded into the debate earlier as he called for the Bank of England to cut interest rates on the basis of the CBI's dismal retail sales survey and the sharp downward revision to first quarter GDP last week. There was some relief on the outlook for the UK economy this morning, however, with better-than-expected data showing that the UK's manufacturing sector has steadied following some sharp output declines earlier this year. Nevertheless, the manufacturing sector is far from being out of the woods yet and the underlying trend remains weak, analysts said.