Widespread concern about the outlook for the U.S. economy pushed the dollar to record lows against the euro and to 12-year lows against the yen Thursday, while gold and oil prices also surged.
The euro rose to a new high of $1.5625 following a report that showed U.S. retail sales fell in February, beating a day-old record of $1.5559. It later fell back to $1.5587 in late New York trading, still above the $1.5526 it bought in New York on Wednesday.
The dollar dropped below 100 Japanese yen for the first time since November 1995. It traded as low as 99.75 yen before recovering some ground to change hands at 102.04 yen, unchanged from Wednesday.
The dollar’s decline also pushed oil higher, with prices hitting a new intraday high of $111 before settling at $110.33 a barrel on the New York Mercantile Exchange. Meanwhile, April gold futures touched $1,000 an ounce for the first time.
In other late New York trading, the dollar fell against the British pound, which edged up to $2.0292 compared to $2.0243 on Wednesday night. The dollar slipped to 1.0143 Swiss francs from 1.0182 Swiss francs, but rose to 1.0141 Canadian dollars from 1.0096 Canadian dollars.
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