The dollar slumped on Tuesday with prospects growing for additional monetary policy easing as US economic data, including consumer confidence, remained weak. The euro surged to a fresh, five-month high against the greenback, smashing a key resistance level and option barriers on its way up, a signal of further gains in the single eurozone currency.
The yen also firmed, pushing the dollar to below 84 yen, its weakest since Japan intervened in the foreign exchange market two weeks ago to halt its currency's rise. The euro rose as high as $1.3577, according to electronic trading platform EBS, taking out barriers at $1.3525. It was last at $1.3575, up 1.0 percent. The euro rose to around 85.76 pence against sterling, up 0.9 percent. Against the yen, the greenback hit a low of 83.81 yen, according to electronic trading platform EBS. The dollar last traded at 83.91 yen, down 0.4 percent on the day.
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