May 14 (Bloomberg) -- The rising dollar is a chance to buy the Japanese yen and Swiss francs that will benefit when investors sell currencies with higher yields, Jim Rogers, Chairman of Rogers Holdings, said today.

Both will benefit as investors reduce carry trades, he said, referring to the practice of borrowing in currencies with low interest rates to buy currencies with higher yields. Rogers, who wrote the best-selling book ``Hot Commodities,'' also recommended buying some Asian currencies.

``The dollar is going up, which is useful for people who want to sell the dollar down the road,'' Rogers said in an interview in Singapore today. ``With things going the way they are, I would rather buy the Swiss franc and Asian currencies. I want to buy more renminbi, Taiwan dollar, more Singapore dollar, some yen. Those are certainly the four I am looking at.''

The dollar gained 0.3 percent to $1.5426 per euro at 5:23 p.m. Singapore time and 0.5 percent to 105.32 yen. It also climbed 0.5 percent to 1.0587 Swiss francs. The dollar will strengthen by the end of the year to $1.50 a euro, according to the median estimate of 40 strategists surveyed by Bloomberg News.

In the past month, 12 out of the 16 most-active currencies fell against the dollar. The Swiss franc lost 5.7 percent, and the yen 4.1 percent, Bloomberg data shows. The Taiwan dollar lost 2.3 percent and the Singapore dollar, 1.9 percent. The yuan, a denomination of China's currency the renminbi, was little changed.

A stronger dollar ``is going to make things look better in America for a while because the price of corn goes up, cotton and all the stuff America has, and that will help America,'' he said.

The U.S. is the world's largest corn producer, with annual output double that of China, the next largest, and is the largest producer of soybeans, according to the U.S. Department of Agriculture. It's also the third largest cotton producer.

(Source)⇒Bloomberg