Dollar failed to gain against the euro as investors saw commodities like gold more better as investment options.
However, the yen rose against the euro as Asian countries showed more promise of increased growth. Toshihiko Sakai, head of trading for currencies and financial products at Mitsubishi UFJ Trust & Banking Corp. in Tokyo, said: "Markets realized quickly that this crisis won’t be cured by adding liquidity, no matter how big it is. The structural problems of the euro zone will persist. I’m not surprised at all the euro is losing strength again.”
Pound hovered near $1.4898. The euro was trading around $1.2636, down 0.2 percent.