FOREX-Dollar extends gains versus euro on oil slump

(Updates with latest market moves)

NEW YORK,July 23 (Reuters) - The dollar extended gains against the euro on Wednesday to trade at a fresh two-week high as oil and gold slumped while U.S. stocks advanced.

The euro was last down 0.5 percent at $1.5699 <EUR=>, after earlier falling as low as $1.5690, according to Reuters Dealing. Against the yen, the dollar was 0.5 percent higher at 107.82 <JPY=>.

"The dollar is extending gains because we have oil declining, and gold is also being pummelled," said Brian Dolan, chief currency strategist at Forex.com in Bedminster, New Jersey. "With respect to the oil inventory, gasoline stocks were up, net-net, it's oil-negative and dollar-positive." (Reporting by Wanfeng Zhou; Editing by Jonathan Oatis)