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The US dollar rose across the board on Thursday as weak economic data from the United States, Europe and China spurred investors to flee riskier currencies and seek shelter in the greenback. The euro came under fresh pressure after data showed Germany's private sector shrank in June for the second month running, with manufacturing activity hitting a three-year low. The euro posted its largest daily loss against the dollar in more than three months.
The euro dropped as low as $1.2571, far off Wednesday's high of $1.2744. By midday, the euro was at $1.2574, down 1 percent on the day. The dollar index, a measure of the greenback's performance against a basket of currencies, rose 0.7 percent to 82.154. Against the yen, the dollar hit a five-week high at 80.32 yen, its highest level since mid-May. It was last at 80.22, up 0.9 percent on the day. The euro slipped against the yen to 100.90. Growth-linked currencies came under pressure against the US dollar, digesting the Fed decision and weak Chinese data. The Australian dollar fell 1.0 percent to US $1.0086, retreating from a seven-week high of $1.0225 hit on Wednesday.

Copyright Reuters, 2012

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