NEW YORK, Nov 11 (Reuters) - The U.S. dollar rose sharply against the euro on Tuesday as stocks on Wall Street extended losses, prompting investors to seek the safety of the greenback.
A sharp drop in crude-oil prices further boosted demand for the U.S. currency, analysts said.
The dollar last traded against the euro at a session high of $1.2647, up 0.6 percent on the day .
"For the currency market, the decline in oil prices is bullish for the U.S. dollar," said Kathy Lien, director of currency research at GFT Forex in New York. "The weakness of U.S. stocks will also add pressure on high yielding currencies." (Editing by Theodore d'Afflisio)
