The European single currency on Thursday hit a two-week high against the dollar in thin trade and following a batch of weak US data, dealers said.
However, the foreign exchange market remains light with many traders still sidelined after the Christmas holidays and ahead of the year-end, they added.
In early morning deals, the euro surged to 1.4516 dollars, the highest level since December 14. It later stood at 1.4503 dollars, which compared with 1.4487 in New York late on Wednesday.
The dollar also slid to 114.20 yen from 114.29.
Later Thursday, dealers will digest US consumer confidence data for December, and November new home sales on Friday amid ongoing jitters about the health of the US economy and its slumping housing sector, dealers said.
On Wednesday, the S&P/Case-Shiller's 20-city composite US home price index fell 6.1 percent in October from the same month last year.
Dealers said the news exacerbated concerns over the US subprime housing crisis, which stems from home loans dished out to high-risk borrowers with patchy credit histories.
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