Euro slips to new 12-year low against dollar

TOKYO - The euro slipped to a fresh 12-year low against the dollar on Thursday as the common currency continued to buckle under pressure felt since the European Central Bank launched its quantitative easing scheme at the start of the week.

The euro was down 0.3 per cent at $1.0515 (S$1.46) after reaching $1.0508, its lowest since March 2003.

The ECB kicked off its 1 trillion euro bond-buying programme on Monday and has dented the euro's appeal by driving yields of many euro zone bonds deeper into negative territory and others to all-time lows.