The dollar hit a three-week high against the euro and rose versus the yen Thursday in Asia, building on gains it made overnight on speculation the U.S. Federal Reserve may raise interest rates later this year, AP reported. The euro fell more than half a U.S. cent to US$1.5385 overnight _ the lowest since it hit US$1.5365 on May 12 _ and was trading at US$1.5404 midafternoon in Tokyo. The dollar climbed nearly a third of a yen to 105.52. Meanwhile, the New Zealand dollar tumbled to US$0.7656, well below Wednesday's closing level of US$0.7798. The kiwi dove after Reserve Bank of New Zealand Governor Alan Bollard dropped hints that a rate cut could come as early as September. The U.S. dollar rose against other major Asian currencies, trading at 44.06 Philippine pesos, 1.3683 Singapore dollars and 1,023.0 South Korean won.
