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The dollar rose Tuesday to its highest level against the Norwegian krone since July 2002 as weakening oil prices continued to weigh on the economies of major oil exporters.
The dollar was unable to entirely avoid the headwinds caused by falling oil.
The greenback USDJPY, +0.54% traded at 118.50 yen, its weakest level against the Japanese currency since mid-December. Japan relies on oil imports to meet its energy demand.
The euro EURUSD, -0.10% fell to $1.1859, hitting a nine-year low for the second time in two sessions. The shared currency traded at just above $1.19 Monday afternoon.
Nymex reformulated gasoline blendstock for February RBG5, -3.43% — the benchmark gasoline contract — fell 3 cents to $1.35 a gallon.
Gold prices advanced for a third session on Tuesday, helped by fresh demand for a safe haven in a new year that, so far, has been rough on stocks and other riskier assets.
Gold for February GCG5, -0.37% delivery rallied $15.40, or 1.3%, to settle at $1,219.40 an ounce, while March silver SIH5, -1.00% gained 42 cents, or 2.6%, to $16.64 an ounce.
The crude-oil collapse continued unabated Tuesday, with the U.S. benchmark closing below $48 a barrel for the first time since April 2009 as worries over Greek debt were added to a litany of bearish factors, including a global supply glut and a rising U.S. dollar.
On the New York Mercantile Exchange, light, sweet crude for delivery in February CLG5, -0.06% fell $2.11, or 4.2%, to close at $47.93 a barrel, its lowest finish since April 2009.
Brent crude for February delivery on London’s ICE Futures Exchange LCOG5, -0.45% fell $2.01, or 3.8%, to $51.10, also its lowest level since April 2009.
Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average) up 0.3%
Hong Kong (Hang Seng Index) up 0.7% (at break)
Shanghai (Shanghai Composite Index) flat (at break)
Sydney (S&P/ASX 200) down 0.1%
Seoul (Kospi) up 0.1%
Mumbai (Sensex) up 0.2%
Taipei (Taiex) up 0.5%
