Asian markets were mostly higher Tuesday with Tokyo and Seoul both gaining over 1%.  But Chinese markets were weighed down by uncertainty following a devastating earthquake in Sichuan.

The U.S. dollar rallied broadly Tuesday after a report on April retail sales beat forecasts and supported views that the Federal Reserve will probably stop cutting interest rates next month.

The yuan breached the closely watched 7.0 mark versus the dollar on Monday after the central bank fixed its reference rate at a post-revaluation high and the government reported higher-than-expected consumer price inflation for April.

The dollar rose versus the Japanese yen and Swiss franc Monday as investors snapped up riskier assets such as stocks, encouraged by a dip in oil prices and unexpectedly strong earnings from HSBC.

Asian markets closed mostly higher Monday, as a stronger U.S. dollar cheered investors and lifted exporters. Both Australia and Japan closed up with Australia gaining almost 1 percent.

Even as the presidential candidates debate whether to cut federal gas taxes this summer, a harder-to-control factor is emerging as a main reason behind the increase in energy costs: the sinking greenback.

Oil's relentless surge to a new peak above $124 weighed on Asian shares Friday, while a stronger yen pressured Japanese exporters, such as Toyota Motor.

The dollar fell Friday as another round of credit market losses prompted investors to reduce exposure to risky assets and heightened concern about the health of the U.S. economy.

Two billion dollars was pulled out of UBS's wealth management division in the first quarter. It's difficult to say how much of the loss stemmed from the subprime crisis, but smaller banks in Switzerland have been picking up business from the troubled market leader.

The European Central Bank left its key interest rate unchanged at 4 percent on Thursday, as widely expected, and its president Jean-Claude Trichet warned on inflation pressures.

The U.S. dollar pulled back from a two-month high against the euro after the European Central Bank left interest rates unchanged and its president's comments focused more on inflation than some had expected.

Oil's relentless push to yet another record high pressured Asian shares across the board Thursday, raising fears that inflation -- and central bank measures to cool it -- would hurt consumer spending and profits.

After six years of stumbling against the euro, the dollar may be showing signs of getting back on its feet.

UK interest rates are expected to remain on hold at 5 percent when the Bank of England’s Monetary Policy Committee announces its decision Thursday, as fear of inflation prevents aggressive cuts that could boost Britain’s weakening economy, analysts told CNBC.com.

The U.S. dollar's slide against the euro could make it attractive for U.S. investors who bought real estate in Germany three or four years ago to start offloading some of those properties.