Dollar index edges nearer to 100, set for best week in four

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Reuters UK

By Alun John HONG KONG (Reuters) – The dollar extended a relentless upward move on Friday, reaching a new near two-year peak against a basket of peers and a one-month high versus the euro, supported by the prospect of a more aggressive pace of Federal Reserve interest rates hikes. The dollar index rose as high as 99.904 in early Asia trade, its best level since May 2020. It was last at 99.890. The index is up 1.3% this week, which would be its biggest advance in one month, backed by hawkish remarks from several Federal Reserve policy makers who are calling for a faster pace of interest rate in…

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