The U.S. dollar rose broadly on Monday, hitting a two-year high against sterling, as tumbling oil and gold prices left investors scurrying to buy back the currency and sparked a rebound in Asian stocks.
A rally in the dollar stalled last week after hitting a six-month high against the euro, but an upward trend in the U.S. currency is seen intact.
Recent reports showing shrinking or no economic growth in Britain, the euro zone and Japan have boosted the attraction of the dollar as an alternative investment, especially with crude prices trading at around USD 114 barrel, USD 33 below a record high hit in July.
Even billionaire investor and long-time dollar detractor Warren Buffett, chairman of conglomerate Berkshire Hathaway Inc, came to the currency's aid on Friday when he said in a television interview that he had no bets against the dollar.
Asian stocks rebounded from a two-year low as the drop in oil prices lifted exporter shares.
Japan's Nikkei share average jumped about 2 %, with shares of Honda Motor Co leading the way higher.
A rally in the dollar stalled last week after hitting a six-month high against the euro, but an upward trend in the U.S. currency is seen intact.
Recent reports showing shrinking or no economic growth in Britain, the euro zone and Japan have boosted the attraction of the dollar as an alternative investment, especially with crude prices trading at around USD 114 barrel, USD 33 below a record high hit in July.
Even billionaire investor and long-time dollar detractor Warren Buffett, chairman of conglomerate Berkshire Hathaway Inc, came to the currency's aid on Friday when he said in a television interview that he had no bets against the dollar.
Asian stocks rebounded from a two-year low as the drop in oil prices lifted exporter shares.
Japan's Nikkei share average jumped about 2 %, with shares of Honda Motor Co leading the way higher.
Gold
