U.S. dollar surges as index hits 100 for first time in nearly two years

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U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic//

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  • U.S dollar on pace for largest weekly gain in one month
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  • Dollar nears seven-year high versus yen

LONDON/NEW YORK, April 8 (Reuters) – The U.S. dollar index on Friday advanced to 100 for the first time in nearly two years, boosted by the prospect of a more aggressive pace of Federal Reserve tightening to curb soaring inflation.

The greenback has gained ground against a basket of six currencies over the past month, particularly versus the euro, which has been pressured by investor concerns about the economic costs of war in Ukraine and a potentially nail-biting presidential election in France.

The dollar index rose as high as 100.19, its highest since May 2020. It was last up 0.2% at 100.01.

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