Early trade: Dollar slides broadly

The US dollar fell broadly on Thursday, and the euro soared to a two-month high above $1.29 as soft inflation and manufacturing data added to concerns about the strength of the US economy. The euro rose 1.3 percent to $1.2901, marking its best day in two weeks.
Traders said efforts to cover bets against the euro that had built up in recent months have accelerated its rise, as did demand for overnight euro call options with strikes at $1.2825, $1.2835 and $1.2855. The dollar also fell against other currencies, declining 1 percent to 87.53 yen and hitting a 5-1/2-month low against the Swiss franc at 1.0401 francs. Sterling rose 0.7 percent to $1.5374, just off a 10-week high.