The euro was pinned near nine-year lows on Wednesday as investors wagered the European Central Bank was just a week away from launching a new stimulus campaign, while concerns about the global economy kept Asian equities subdued.
There was no reprieve for commodities with oil near six-year lows while copper prices dropped further below $6,000 U.S. per tonne to their weakest level in more than five years.
Not helping the mood was news the World Bank had lowered its global growth forecasts because of sluggishness in the euro zone, Japan and some major emerging economies.
The dollar outpaced the euro on the back of upbeat U.S. economic data and after two ECB officials fueled expectations that the bank would launch a program to buy government bonds at its Jan. 22 policy meeting.
The common currency fell as far as $1.1753 U.S. to reach a low not seen since December 2005. It last traded at $1.1775 U.S. Against the yen, the euro slumped to its lowest in over two months near 138.30.
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