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The dollar was mixed versus on Thursday, coming under heavy pressure versus the yen after President Barack Obama called for new restrictions on US financial institutions aimed at preventing future financial crises.
Stocks plunged as Obama proposed measures designed to discourage American banks from becoming large enough to pose a systemic risk to the whole financial system.
Concerns about the pace of the global economic recovery kept the dollar afloat versus other major currencies. China took steps to contract credit and slow down its overheating economy, adding to growing anxiety.
The dollar dropped to a fresh monthly low of 90.11 versus the yen, wiping out its gains from earlier in the week.
Against the euro, the dollar rose to a fresh 5-month high of 1.4010 before tailing off on Obama's remarks.
The buck bounced back above C$1.0500 against the resource-linked loonie as commodity prices continued to fall.
Meanwhile, the dollar eased back to 1.6200, paring some of its overnight gains. The pair has been unable to sustain direction for months, and is little changed from last spring.
In economic news, first time claims for unemployment benefits unexpectedly jumped to a two month high in the week ended January 16th, with increase likely to renew concerns about the outlook for the labor market.
Initial jobless claims rose to 482,000 from the previous week's revised figure of 446,000, according to a report released by the Labor Department on Thursday.
The Conference Board released its report on leading economic indicators in the month of December, showing that its leading indicators index increased for the ninth consecutive month, rising by more than economists had anticipated.
While the Federal Reserve Bank of Philadelphia released a report on Thursday showing a bigger than expected slowdown in the pace of growth in regional manufacturing activity in January, the manufacturing sector continued to show improvement for the fifth consecutive month.
The index of activity in the Philadelphia-area manufacturing sector fell to 15.2 in January from a revised 22.5 in December, although a positive reading continues to indicate growth in the sector.
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