The dollar fell to a fresh low versus the euro on Thursday after the European Central Bank and Bank of England decided to key their benchmark interest steady.

The U.S. currency also reached a record low on the New York Board of Trade's dollar index, which measures the dollar against six major currencies. The index dropped to a low of 72.963, according to Reuters data.

The European Central Bank and the Bank of England left their key interest rates unchanged today, at 4.0 percent and 5.25 percent respectively, citing the threat of inflation.

ECB president Jean-Claude Trichet said the bank's top priority was to anchor inflation expectations, adding that the ECB's non-move was contributing toward that goal.

The euro rose as high as $1.5378, it's highest since the currency began trading in 1999. At 3:21 p.m. in New York, the euro had fallen back to $1.5359 per dollar. The British pound rose sharply against the dollar, reaching $2.0080 per pound.

The dollar also dipped as low as 103.04 against the yen. It was trading at 102.86.

Inflation