The dollar sank against the European currencies Thursday, but rose against the yen after the European Central Bank cut its key rate less than expected and U.S. reports on unemployment and loan delinquencies soured investors on the buck.
The ECB cut its key rate by a quarter percentage point to 1.25 percent _ less than investors expected.
The 16-nation euro jumped to $1.3431 in early New York trading from $1.3231 late Wednesday.
The British pound rose to $1.4666 from $1.4447, but the dollar gained to 99.33 Japanese yen from 98.65 yen.
The ECB was widely expected to cut its benchmark interest rate by a half percentage point, to 1 …
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