Dollar extends losses, index hits 3 1/2-mth low

The dollar hit a 3 1/2-month low against a currency basket on Monday, with the U.S. currency coming under broad selling pressure as rising oil prices fuelled concerns about U.S. growth.

The dollar index .DXY, which tracks its value against the currencies of the biggest U.S. trade partners, fell more than half a percent on the day to 76.869, its weakest since early November.

Traders said a rise in the euro against the dollar due to Asian sovereign demand was also putting broad selling pressure on the U.S. currency. more