The euro fell versus most of its 31 major peers as European Central Bank President Mario Draghi said stimulus to lift the euro areas œabysmal performance may include buying government bonds.

The yen rebounded from its weakest level since 2008 versus the shared currency after Japans economy unexpectedly sank into recession, reviving demand for safer assets. The Swiss franc strengthened to within 0.1 percent of its 1.20-per-euro cap. Brazils real erased gains to trade at a nine-year low while New Zealands dollar rose against its major counterparts as retail sales increased.

The euro fell 0.6 percent to $1.2455 as of 2:56 p.m. in New York. The yen appreciated 0.4 percent to 145.07 per euro, after earlier touching 146.53.

Japans currency dropped 0.2 percent to 116.47 per dollar, having reached 117.05, the weakest level since October 2007. The yens 14-day relative strength index against both the dollar and euro remains below the 30 level that some traders see as an indicator the currency is poised to strengthen.

Source: Bloomberg