Early afternoon trade in New York: dollar rallies broadly

The dollar bounced broadly on Thursday while the euro tumbled to an eight-month low as mounting concerns about the global economy drove investors to seek safety and liquidity. The euro slid through the 50 percent retracement level of the move from the June 2010 low to the May 2011 peak, hitting a session low of $1.3384, its weakest since January 20.
In early afternoon New York trade, the euro traded down 1 percent at $1.3432 on electronic platform EBS. The dollar was down 0.1 percent against the yen at 76.34.