USD down versus euro, yen

The US dollar hit another record low versus the euro on analyst opinion that the new initiative by the Federal Reserve to put $200 billion in the monetary system won’t help the US economy and on better than anticipated growth in Eurozone industrial production in January.

The dollar dropped as low as $1.5504 to the euro and was trading at $1.5487 to the euro at nearly noon in New York, while the greenback also dropped in relation to the yen, to ¥102.4650.

The pound also gained on the dollar, with the US currency trading at $2.0217 to the pound just before noon, while the Swiss franc was up at SFr1.0223 to the dollar after trading at SFr1.0241 earlier.

While the euro was higher in relation to the yen, to ¥158.6875, the yen gained against several major currencies on new economic growth figures in Japan, including gains against the South Korean won, to W9.4895 to the yen.

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