Dollar Down - Oil Up:

On Wednesday, the dollar remained under pressure in Asian trade market, shifting logical impact on oil which above 70 dollars in Asia after volatile trade overnight sparked by a weakening US dollar and political unrest in key crude producers Iran and Nigeria. By the lunch dollar fell to 96.37 yen in Tokyo Market from 96.42 in New York late Tuesday. The euro also dropped to 1.3825 dollars from 1.3838 and to 133.25 yen from 133.45. However, Forex dealers expect Japanese yen will likely remain strong in Asian hours. The dollar lost ground overnight in New York after leaders from the world's top emerging economies delivered a warning shot on the domination of the US dollar as their new forum flexed its muscle at a first summit. Analysts see this soared due to political unrest following the presidential elections in Iran and bombing attacks on oil plants in Nigeria represent an explosive mix for the oil market. The leaders of the so-called BRIC nations -- Brazil, Russia, India and China -- called for a "more diversified" currency system after a meeting that came as talk continues over the dollar's future as the global reserve unit. In Tokyo morning trade the dollar briefly dipped below 96 yen for the first time in about two weeks, also driven down by struggling US share prices. The European single currency also dropped against the yen on growing risk aversion which encourages buying of the safe-haven Japanese currency. The euro is however, unwinding against the yen, after the Japanese currency was earlier sold off. For the longer term, this trend of buying the yen over the greenback may not last. Investors are buying the currency with so much confidence. Dealers expected the dollar-yen rate to be volatile in Asian trade::FP:Pr: