Dollar hits 1-yr low, Asia stocks at 13-mth high

Dollar hits 1-yr low, Asia stocks at 13-mth high

"Wed, Sep 23 12:14 PM Enlarge Photo An employee working as a money changer prepares U.S. dollar currency for a customer in... The dollar slid to a one-year low against a basket of currencies as market players seized on surprisingly strong New Zealand economic growth data as a reason to push the kiwi dollar higher and dump the U.S. currency.
Even as many commodity prices dipped, the dollar's drop has boosted oil and metals and lifted resource-related shares around the region. Commodity-heavy Australian stocks outperformed most other markets in the region, nudging Asian shares to a 13-month peak.
'It's a mixture of optimism about global growth and stronger commodity prices, which is particularly good for Australia,' said Tom Elliott, a fund manager with MM&E Capital, which oversees about A$50 million in"