The dollar extended losses against the other major currencies on Tuesday, as concerns over global economic growth continued to dominate market sentiment.
USD/JPY dropped 0.81% to a more than
one-year low of 114.91.

Concerns over the health of European banks prompted investors to sell financial stocks on Monday, sparking a rout in European and U.S. markets.
Trade volumes were expected to remain thin in Asia with markets in China closed for the five-day long Lunar New Year holiday.
EUR/USD rallied 0.90% to trade at 1.1294.
Data earlier showed that German industrial output unexpectedly fell 1.2% in December, indicating that the region’s largest economy ended 2015 on a weak footing.
Elsewhere, the dollar edged higher against the pound, with GBP/USD down 0.12% at 1.4414 and was lower against the Swiss franc, with USD/CHF tumbling 1.56% to 0.9714.
The U.K. Office for National Statistics said on Tuesday that the total trade deficit widened to £10.3 billion in the fourth quarter from £8.5 billion pounds in the previous quarter, marking the biggest trade gap since the start of 2015.
The annual trade deficit widened to £34.7 billion in 2015, up from £0.3 billion in 2014.
Meanwhile, USD/CAD slipped 0.14% to 1.3907.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.45% at 0.7056, while NZD/USD edged up 0.17% to 0.6639.
The National Australia Bank earlier reported that its business confidence index ticked down to 2 in January from 3 the previous month, in line with expectations.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.76% at 96.03.