Dollar posts biggest weekly increse in 7 months on rate betsReutersThe US dollar on Friday consolidated gains and posted its biggest weekly rise in seven months as markets priced in a year ahead of aggressive hikes in US interest rates. The US dollar index rose a scant 0.04 percent to 97.22. The index, which measures the US dollar’s value against other major currencies, rose 1.65 percent for the week, its biggest weekly gain since June. The Employment Cost Index (ECI), the broadest measure of labor costs, rose 1.0 percent after increasing 1.3 percent a quarter earlier. The New Taiwan dollar declined against US dollar on Friday, losing NT$0.022 to close at NT$27.828, down 0.45 percent from NT$27.702 a week earlier.

Source: Taipei Times January 30, 2022 03:54 UTC