The dollar slid to an all-time low versus a basket of currencies on Wednesday after weak US data and comments from a top Federal Reserve official cemented views for more US rate cuts.
The euro vaulted above the psychological $1.50 mark for the first time in its 9-year history. The Swiss franc also rose to a record peak against the US currency, while the New Zealand dollar touched levels not seen it was free-floated in 1985.
Analysts reckoned that Wednesday's calendar was unlikely to bring any respite to the dollar, with January durable goods orders and new home sales seen easing versus the previous month and Fed chairman Ben Bernanke seen leaving the door open for further rate cuts in his semi-annual monetary policy report before the House Financial Services Committee from 1500 GMT.
"The overnight explosion has been quite aggressive ... and the question is what's going to arrest the upward momentum (in the euro) and at the moment it would probably require some better US data," said Jeremy Stretch, strategist at Rabobank.
"That doesn't seem to be happening any time soon, and it's going to be pretty unlikely that Bernanke is going to signal anything other than continued pre-emptive action from the Fed. In the short-term it seems that the path of least resistance is to the topside."
The euro rose as high as $1.5087 according to Reuters data, before paring gains to stand at $1.5049 by 1058 GMT. The dollar index fell to a record low of 74.226, and the greenback also plumbed a historic trough of 1.0668 Swiss francs.