US dollar posts largest weekly gain in a month on hawkish Fed messages

New York

THE US dollar index on Friday (Apr 8) posted its largest weekly percentage gain in a month, supported by the prospect of a more aggressive pace of Federal Reserve tightening to curb soaring inflation.

The index also advanced to 100 for the first time in nearly 2 years. It rose as high as 100.19, its highest since May 2020. It was last little changed on the day at 99.822, and up 1.3 per cent on the week.