The US dollar tested an all time low versus the Swiss Frank after Federal minutes indicated the need to stimulate growth. The US dollar that began its downward slide against most of the major currencies slipped to record lows against the Swiss franc at 0.9555 on Tuesday. The greenback further dipped past 0.9550 levels against the Swiss franc in early Asian trades on Wednesday. The pair is currently quoting at around 0.9554. The greenback that gained early in the week against the major currencies tripped on Tuesday after the Federal Reserve indicated that it would ease monetary measures soon. The minutes of the fed meeting showed that several members were in favour of buying massive amounts of long term government bonds to prop up the largest economy. However, quantitative easing leads to a fall in value of the country's currency. Meanwhile, the ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, retreated to 77.13. The dollar also fell to a 15-year low against the Japanese yen and dropped to almost 1.3970 against the European common currency.

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