Summary Euro sank against dollar as ECB begins to pump quantitative-easing money into the eurozone.
NEW YORK (AFP) - The euro sank to a new 12-year low against the dollar Wednesday as the European Central Bank begins to pump quantitative-easing money into the eurozone.
The euro hit $1.0510 -- its lowest since March 2003 -- before edging up to $1.0548 at 2100 GMT.
It also fell to 128.1 yen, a level last seen in August 2013 and 20 yen below the peak in early December.
Analysts said the combination of the ECB program, slow eurozone growth and the continuing Greek crisis could keep pushing the 19-nation shared currency lower.
"Rising expectations for US interest rates and an escalation of the Greek crisis could push the euro down to parity against the US dollar and beyond," said Jonathan Loynes, chief European economist at Capital Economics.
The dollar, supported by expectations that the Federal Reserve is moving close to raising zero interest rates, edged higher against the yen, pound and Swiss franc.
The pound fell below the $1.50 line for the first time since January, meanwhile, hitting $1.4894 before bouncing back slightly.
