LONDON, Dec 7 (Reuters) - U.S crude futures for January CLc01 fell more than $1 on Monday, slipping over 1.20 percent as the dollar hit a five-week high against a basket of currencies. .DXY
U.S. crude for January fell as low as $74.38 at 1408 GMT, $1.09 lower than it closed on Friday, before retracing some losses in heavy market activity.
Dollar strength makes commodities priced in the unit more expensive for holders of other currencies. (Reporting by Chris Baldwin, editing by Keiron Henderson)
