* US dollar hits lowest since Aug 08, targets record low
* Asian stocks eye 3-year high as emerging markets in favour
* Gold holds $1500/oz, Brent above $124 on weak dollar
HONG KONG, April 21(Reuters) - The U.S. dollar slid to a 2-1/2-year low against a basket of major currencies and Asian stocks were poised to hit a 3-year high on Thursday, as investors scrambled to get in front of upward momentum in higher-yielding assets, particularly in emerging markets.
Brent oil
Commodity-related currencies rose with the Australian dollar hitting a post-float high against the U.S. dollar at $1.0740, as the hunt for yield intensified on prospects that U.S. interest rates would remain at a record low for a long time.
The U.S. dollar also fell against other major currencies. The dollar index , a gauge of its performance against six other major currencies, has tumbled since Monday to its lowest level since August 2008 at 74.116. The all-time low for the index is 70.698.
The MSCI Asia ex-Japan rose 0.5 percent 504.2, within striking distance of a three-year high at 504.4. Technology stocks got a lift after iPod maker Apple crushed forecasts on roaring global demand for its products. [ID:nL3E7FK17N]
Strong corporate results from U.S. bellwethers bolstered also bolstered Japan's Nikkei which was up 0.9 percent.
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