LONDON (AFP) - The dollar firmed against the euro and yen amid record high oil prices and ahead of key US jobs data.
The single European currency stood Wednesday at 1.2280 dollars in early European trading against 1.2309 overnight in New York.
The dollar traded at 111.27 yen compared with 111.15 on Tuesday.
The price of gold jumped by more than three dollars to 418.50 dollars at the morning fixing. A surge in oil prices weighs on global economic growth, say analysts, allowing gold to benefit from its status as a safe haven.
World oil prices pushed further into uncharted territory Wednesday, reaching a new record above 51 dollars on worries about supply disruptions in the Gulf of Mexico and booming demand.
"The dollar remains very well underpinned against the yen as the yen continues to come under selling pressure against most currencies in line with rising oil prices," Bank of Tokyo-Mitsubishi economist Derek Halpenny told AFP.
The yen tends to suffer more than other major currencies from soaring oil prices since Japan imports all its crude.
Traders were also looking ahead to Friday's monthly snapshot of the national US jobs market.
"As the payroll report nears, we suspect the dollar may edge a little higher as speculation of a higher number takes hold," said Commerzbank Securities analyst Karen Jones.
Evidence of strong jobs creation in September would help to cement expectations of further rises in US interest rates, in turn boosting the dollar, analysts said.
Elsewhere, the British pound recovered some lost ground in the wake of stronger-than-expected British house price data.
"We suspect this is sufficient to leave sterling with a well-bid tone for the day," HBOS analyst Steve Pearson said.
House prices rose by 1.4 percent in September from the previous month for an annual rise of 20.5 percent, according to a monthly house price survey from mortgage lender Halifax.
In August, prices fell 0.6 percent from July, sparking fears of a crash for the red-hot housing market.
The euro was changing hands at 1.2280 dollars against 1.2309 late on Tuesday in New York, 136.64 yen (136.85), 0.6897 pounds (0.6908) and 1.5543 Swiss francs (1.5532).
The dollar stood at 111.27 yen (111.15) and 1.2658 Swiss francs (1.2619).
The pound was at 1.7804 dollars (1.7818), 198.09 yen (198.05) and 2.2540 Swiss francs (2.2482).
On the London Bullion Market, the price of an ounce of gold stood at 418.50 dollars against 415.40 late on Tuesday.