NEW YORK (Reuters) - The dollar dipped to an all-time low against the euro on Thursday for the sixth consecutive session, as traders took aim at technical targets in a thin market.
Many foreign exchange desks had skeleton crews, but traders who were around pushed the U.S. currency broadly lower, positioning themselves for further declines next year on the back of a weaker-than-expected index of business activity in the U.S. Midwest.
"People want to go into the weekend and the new year positioned for a weaker buck, which is the way that it has been pretty much since the election," said Tim Mazanec, director of foreign exchange with Investors Bank and Trust in Boston.
By early afternoon, the euro eased to $1.3645 (EUR=: Quote, Profile, Research) , after rising to a new high of $1.3667, according to Reuters data. An options barrier was broken at $1.3650, which triggered stop-loss orders above that level.
http://reuters.com/newsArticle.jhtml?type=businessNews&storyID=7209753
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