Dollar climbs in Asia

The Swiss franc hit a record high against the dollar on Thursday and the US currency remained under broad pressure on fears that social unrest could spread in the oil-rich and politically volatile Middle East. Traders said the dollar appeared to be losing its safe-haven lustre while the euro and the pound drew support from expectations that their interest rate advantage could rise further later this year.
Against the Swiss franc, the dollar fell to a record low of 0.9274 franc, its slide having intensified after triggering stop-loss selling below its previous record low of 0.9301 set at the end of last year. After trimming some losses, the dollar last stood at 0.9285 franc, down 0.5 percent from late US trading on Wednesday. The euro held firm at $1.3766, up 0.1 percent from late US levels, hovering just about a cent below its February 2 peak of $1.3862.
The British pound moved closer to its recent peak of $1.6279 hit on February 3 and more importantly $1.6300 hit in November, a break of which could signal a departure from its trading range of the past few months. Sterling rose 0.1 percent to $1.6225. It had risen as high as $1.6275 on Wednesday after Bank of England minutes showed one more policymaker voted for an interest rate rise this month, cementing market expectations that the central bank will raise rates by June.
The dollar also ceded ground to the yen and the Australian dollar, falling 0.6 percent against the Japanese currency to 82.06 yen. Traders cited dollar-selling by Japanese exporters and model funds, as well as some long liquidation. A support level for the dollar lies near 81.80 yen. That roughly coincides with the 76.4 percent retracement of the dollar's rally between early to mid-February and an intraday low hit on February 8.
The Australian dollar rose 0.3 percent to $1.0050, supported by data showing Australian business investment rose solidly last quarter, with spending plans for the next couple of years exceeding even the most optimistic forecasts. Underscoring the dollar's broad decline, the dollar index, which measures the dollar's value against a basket of currencies, fell as low as 77.144, its lowest in three weeks and edging closer to its February 2 trough of 76.881.