By Charlotte Cooper TOKYO (Reuters) - The dollar stabilized on Wednesday with the help of investors taking profits on rising commodity-linked and higher-yielding currencies, after it was pushed to a 14-month low against a basket of currencies the previous day. Traders said investors had been cashing in gains in the Canadian and New Zealand dollars, which this month hit their strongest levels in about 15 months, and in sterling, pushing them down about 0.2 percent against the greenback. The move helped the dollar climb further off a 14-month low against the euro after the single European currency failed to breach a psychological barrier at $1.50 the previous day. The dollar also got some support from profit-taking in Asian currencies, after markets in Brazil fell on a new government tax on foreign investments aimed at stopping the real from gaining. The Bank of Canada killed talk of an early rate hike on Tuesday, warning that favorable economic developments were being undermined by the Canadian dollar's strength and sending the currency down sharply. The move spread to other pairs although comments by New Zealand's central bank chief Alan Bollard that a high currency was not necessarily an obstacle to raising the cash rate gave the kiwi a brief lift. "The BOC's commitment to keep rates low until well into next year weighed on the rest of the (growth) proxies," said Sue Trinh, a currency strategist at RBC Capital in Sydney. "Besides, stocks were also struggling, offering the U.S. dollar support and tempering its fall." The dollar index edged down 0.1 percent from late New York levels but was steady at 75.511, above a 14-month low of 75.103 hit on Tuesday. The Australian dollar retreated from Tuesday's 14-month high above $0.9300 to $0.9223, while the kiwi held steady at $0.7505, having lost 1 percent on Tuesday. It briefly rose as high as $0.7525 after Bollard's comments. The Canadian dollar held firm at C$1.0474 per dollar, after slipping to C$1.0517 and having tumbled 2 percent the previous day. The euro fell 0.1 percent to $1.4929. It hit a 14-month high of $1.4994 the day before. The dollar got some respite from softer stocks. Wall Street ended lower and Asian markets were in the red after disappointing U.S. housing and inflation data outweighed strong results from bellwethers Apple (AAPL.O) and Caterpillar (CAT.N). .N JUST A PAUSE The dollar has been under pressure this year as investors brace for record low U.S. interest rates well into 2010 and questions mount about its status as the world's main reserve currency.

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