The currency declined the most against the South African rand and Australian dollar, favorites of so-called carry trades. Government of Singapore Investment Corp. said it will study taking part in UBS AG's 15 billion Swiss franc ($15 billion) fund raising. BP Plc, Britain's largest company by market value, said a Chinese sovereign fund bought a stake.
Japan's currency dropped to 160.26 per euro as of 1:52 p.m. in Tokyo from 160.04 in New York. It fell to 101.31 versus the dollar from 101.10. The euro traded at $1.5820 per dollar from $1.5832. It touched $1.5913 on April 10, the highest level since the European currency's debut in 1999.
The euro traded near a record high against the dollar as a German industry report will probably show rising investor confidence, bolstering the case for the European Central Bank to refrain from cutting interest rates.