The euro extended its rally against the dollar Thursday to another record high after poor jobs data and a repeat performance by Federal Reserve Chairman Ben Bernanke on Capitol Hill.

The Fed chief's testimony before the Senate Banking Committee was largely the same as a day earlier before members of the House. He did little to offer relief to recession fears and supported market expectations for a 50 basis point cut to the fed funds rate at the next Federal Reserve meeting, diverging the U.S. from the euro zone. The euro rose to a fresh lifetime high of $1.5231.

The dollar also dropped to a new all-time low against the Swiss franc of 1.0485 Swiss francs, and got closer to an almost three year low against the yen, falling to 105.07 yen. Against the emerging market currencies, the dollar isn't finding much relief either as investors seek to capitalize on using the dollar's low rate to fund bets in riskier assets.

The buck fell to its lowest level against the Colombian peso since 1999 and against the Chilean peso since 1998. The Brazilian real also strengthened for the ninth consecutive session Thursday, rising to a fresh nine-year high against the dollar.

"This is follow-through from the move seen all week," said Dan Katzive, foreign exchange strategist at Credit Suisse in New York. "The dollar is undermined by the fact that U.S. yields are continuing to fall relative to other industrial countries."