The euro floated near an all-time high above $1.34 today as sentiment towards the US currency remained gloomy in the wake of a disappointing US jobs report last week.
The single European currency stood at $1.3431 in early European trading against $1.3452 late on Friday in New York.
Friday's data showed that the US economy generated 112,000 new jobs in November, compared with expectations of 200,000. The data prompted another bout of dollar dumping, pushing the euro up to a fresh all-time high of $1.3461 on Friday afternoon.
The US currency has been on a downward spiral in recent weeks as concern over US deficits combined with talk that central banks are revising their currency reserves away from the dollar.
The euro could not find enough buying momentum to push it to a fresh record today. The pound and yen also stayed close to multiple year highs against the beleaguered dollar.
Not even heightened intervention talk from European politicians and Japanese monetary officials has appeared to stem the selling tide.
French finance minister Herve Gaymard was the latest high-profile politician to warn of the damaging effects of the euro's non-stop appreciation. He said that the weakness of the dollar lies not just with Europe, but also with American and Asian authorities.
Despite the mounting concerns, the European Central Bank, which has ultimate control over any intervention, has not encouraged the notion that it will buy dollars in the market. With or without intervention, the overall view was that the dollar has further to fall.
