Dollar hits new low against euro

BERLIN — The U.S. dollar slid to a new low Wednesday against the euro, which rose to an all-time high of $1.3179 in late New York trading, breaking a day-old record as jittery markets kept up pressure on the U.S. currency.

The recent rally has taken the euro from $1.20 about two months ago, driven by concerns over the U.S. trade and budget deficits, which sent it above the $1.31 mark for the first time when it hit $1.3105 on Tuesday. The euro fell as low as 86 cents in February 2002 after debuting at $1.18 on Jan. 1, 1999.

The renewed euro surge over the past two days comes after a weekend meeting of the finance officials from the Group of 20 industrial and developing countries didn’t signal concerted action to stop the euro’s rise.

The dollar also hit a multi-year low against the Japanese yen Wednesday, dropping to 102.81 yen.