This comes after European Union leaders struck a deal for a region-wide rescue plan, a huge step toward recovery from the COVID-19 crisis.
The common currency surged to $ 1.1543.
This is the best since January 2019, as investors bet an economic rebound would benefit currencies besides the dollar as global exports pick up and trade improves.
The euro stood at an 18-month high, silver soared and commodities rose on Wednesday, benefiting from hopes that key parts of the global economy are heading in the right direction which also hurt the US dollar.
But stock markets, which have surged this month, moved mostly sideways in Asia, except in Australia where a jump in coronavirus infections pushed the main index 1.3 percent lower.
S&P 500 futures were flat following a mixed session on Wall Street, with economic optimism running into concern about rising coronavirus cases.
The focus has also turned to political disagreement over the next US rescue package, Reuters reported.
German DAX futures, Euro STOXX 50 futures and FTSE futures were down about 0.3 percent, pointing to a steady open after gains on Tuesday in the wake of European Union leaders striking a deal for a region-wide rescue plan.
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