The dollar hovered near a three-year low against a basket of currencies on Friday, undermined by the spectre of low US interest rates and the crushing weight of the US budget deficit, with some players looking for it to test an all-time low when players return from the Easter holidays. The dollar index slipped to a three-year low of 73.735 on Thursday, having slipped below its 2009 trough of 74.170. It last stood at 74.061 on Friday, about 4.7 percent above its record low of 70.698 marked in March 2008. Trade was thin as many markets were shut for Easter. But some participants said the greenback's downtrend looked set to resume once players come back from the holidays. The euro fetched $1.4575, after hitting a 16-month high of $1.4649 on Thursday. Dollar/yen traded at 81.84 yen, near a three-week low of 81.61 yen hit on Thursday. It has broken below key support around 82.00 yen, a 38.2 percent retracement of its rise from a record low hit in mid-March of 76.25 yen to a six-month high of 85.53 yen in early April. The dollar also fell to a record low of 0.8782 Swiss franc on Thursday before settling down at around 0.8862 franc on Friday.
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