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Singapore - The US dollar slid in Asian trade on Thursday as investors abandoned the safe-haven unit for riskier assets amid growing optimism for the global recovery, analysts said.
The euro bought $1.4158 in the afternoon compared with $1.4129 in late New York on Wednesday, while the dollar eased to ¥82.72 from ¥82.88.
The European currency changed hands at ¥117.11 from ¥116.81.
Traders were dumping the US dollar as they branched out into riskier investments following a rally in US equities on Wednesday, US-based DailyFX said in a report.
"The US dollar fell against all major currencies except the similarly-downtrodden Japanese yen, sinking on impressive gains in the Dow Jones Industrial Average and broader 'risk,'" the forex research firm said.
The dollar is regarded as a safe haven currency by investors, therefore its value will retreat during times of higher risk sentiment as traders seek less safe but more profitable assets.
Traders' appetite for risk was stoked by Wednesday's US equities markets rally fuelled by stellar growth in private-sector hiring, which suggested the ailing labour market had turned a corner.
The Dow Jones Industrial Average rose 71.60 points to finish at 12 350.61 and the broad-based S&P 500 index advanced 8.82 points to 1 328.26.
Payrolls firm ADP reported that US companies added 201 000 jobs in March, raising hopes for the government's keenly awaited March jobs data due on Friday.
The dollar was lower against other Asian currencies, trading at Sg$1.2602 from Sg$1.2621 on Wednesday, at 8 699.00 Indonesian rupiah from 8 703.00 and Tw$29.48 from Tw$29.56.
It retreated to 43.46 Philippine pesos from 43.59, to 30.29 Thai baht from 30.33 and to 1 097.35 South Korean won from 1 105.62.
