The euro was down against the dollar and on th other hand the yen was seen strong Federal Reserve Chairman Ben Bernanke expressed concern about the US economy and dampened risk appetite.
Brian Dolan, chief currency strategist at Forex.com in Bedminster, New Jersey said: “The market was looking for some form of concrete action from Bernanke, a commitment to do something. All we got was that they’re aware of the risks and are prepared to take as yet unspecified actions. Reaction is basically turning into a spasm of despair. In FX, the yen crosses are your real indicator of risk aversion.”
The euro was down 1 percent at $1.2763.Against the yen, the euro fell 1.5 percent to 111.07. The dollar fell 0.6 percent to 87.02 yen.