The euro dropped to an 11-year low as the European Central Bank expanded its bond-buying program to include government bonds, a policy that tends to debase the currency.

The euro fell 2.1 percent to $1.1368 at 3:25 p.m. in New York and touched $1.1363, the weakest level since September 2003. The last time the euro and dollar traded one for one was in 2002.

The shared currency declined 1.7 percent to 134.67 yen and touched 134.29, lowest since Oct. 16. The dollar added 0.4 percent to 118.44 yen.

Source: Bloomberg