Dollar at new high

The US dollar extended gains to hit a fresh 3-year high against a basket of currencies on Monday as another U.S. bailout for American International Group sparked a flight into perceived safer assets.
The troubled insurer also reported a record fourth quarter loss of $61.7 billion, extending hefty stock market losses.
The dollar index .DXY hit a high of 88.956, its highest since April 2006 as European stock markets fell 4 percent .FTEU3. The U.S. currency's gains also took the pound to its lowest in just over a month at $1.4036 .
"There's no good news out there and that is leaving the euro and sterling looking really heavy right now. Stock markets are working in the dollar's favour," a London-based trader said.

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