Doha: A surging dollar has swept past chart resistance and is heading toward its sharpest monthly gain in almost a year on Thursday. The dollar has broken the $1.14 level against the euro this week and hit its strongest in 13 months at $1.1325 overnight, before steadying in Asia at around $1.1353. At 161.73 yen, it is within a whisker of its highest in just over four decades on the struggling Japanese currency.

According to Qatar News Agency, the dollar index, which measures the currency against a basket of six major peers, made a 13-month peak at 101.8 overnight and started the Asia session steady around 101.6. The dollar made a seven-month high on sterling overnight at $1.314 and an 11-month top of 0.8139 Swiss francs.

The Aussie, down more than 1.8% for the week so far, was under pressure at $0.6890. The New Zealand dollar, down 1.7% this week, sat at $0.5640, just above Wednesday's seven-month trough of $0.5631.