The dollar has declined to a 15-month low against the euro as the US Federal Reserve says interest rates will remain at super-low levels for the time being.

The dollar declined to a 15-month low against the euro as investors worldwide run from the currency, even as the US issues upbeat economic reports.

The US currency slide shows that the dollar may face further pressure Thursday in Asian and European trading.

The 16-nation euro climbed to $1.5077, having earlier risen to $1.5096, the highest level since August 2008.

The development comes as the US Fed announced it was not concerned by the US currency's fall.

Experts said investors were selling the dollar to buy gold, which surged to another record Thursday.

Meanwhile, the US dollar was within striking distance of 14-year lows in trading with the Japanese yen and dipped below parity.

Japanese Finance Minister Hirohisa Fujii said Japan "will take appropriate steps if foreign exchange rates move abnormally."

A strong yen is generally seen as bad for Japan's economy because it reduces overseas income for the country's big auto and electronics exporters.

MVZ/JG