Ivan&#39;s dollar punch getting stronger
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Lower end of loss estimates upped to $4B; losses could reach $10B to make it 2nd most costly. By Chris Isidore, CNN/Money senior writer.
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LONDON: Oil&#39;s record-breaking rally has taken US crude over $US52 a barrel, fuelled by the impact of Hurricane Ivan on US winter inventories.
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THE dollar opened stronger today as some commodity-based trading helped pushed the domestic unit higher. At 7am AEST the local unit was trading at $US0.
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The dollar extended recent gains to a  new two-month high against the euro on Thursday, underpinned by  the view that expected increases in U.S. interest rates will  bolster the greenback's yield appeal.
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Oil&#39;s record-breaking rally lifted US crude beyond $52 a barrel on Wednesday, fueled by the impact of Hurricane Ivan on US winter inventories.
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New record in sight as fighting in Nigeria, slow rebound from Ivan raises new inventory concern. By Chris Isidore, CNN/Money senior writer.
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The euro hit a new high against the dollar on fears of rising oil prices and concern over the U.S. budget deficit.
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The dollar strengthened slightly against major currencies in Asian trade yesterday, with the yen coming under pressure from a further spike in crude oil prices, dealers said.
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The dollar's jump against the euro on Friday reflected a possibly misinterpreted signal of higher interest rates and the desire of investors to own dollars.
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The dollar was mostly stronger across  the board on Tuesday as dealers pared back bets against the  currency in predominantly technical trading.
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Hurricane Ivan, with winds near 140 mph, pushed oil prices higher today as it moved through the Gulf of Mexico on a path that may bring it ashore between Louisiana and Florida by Thursday.
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The dollar edged up against the euro on  Friday, building on overnight gains made after the European  Central Bank reiterated that Asian currencies should be more  flexible, taking pressure off the single currency to rise.
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The dollar was under pressure on Thursday  after the previous day's spike to a three-week high versus the  euro was eroded by a sharp rebound in oil prices.
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The dollar sprang higher across the  board on Friday in a technically-driven rally that gained  momentum after remarks by U.S. Treasury Secretary John Snow,  traders said.
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OIL prices extended record-setting highs near $52 for US crude yesterday, fuelled by the impact of Hurricane Ivan on US winter inventories.
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The dollar roared higher on Tuesday as  investors unwound bets on a further near-term decline after the  currency had plumbed several record lows against the euro in  the final days of 2004.
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World oil prices rose on Tuesday as  Hurricane Ivan charged toward the oil-rich Gulf of Mexico,  where energy companies evacuated thousands of offshore workers  and halted some production.