The U.S. dollar rose in European and U.S. markets Wednesday, following a lacklustre day in Asia.

After trading up to a high of 1.3290 in Asia, the euro plummeted in Europe, trading down to 1.3219, before being sold off further on American markets to 1.3152.

Dollar bulls were encouraged by a better-than-expected rise in the manufacturing ISM from 49.5 to 51.4. Any reading above 50 indicates manufacturing activity is expanding.

The Japanese yen continued its weakness against both the dollar and the euro. In European trade the yen buckled to 119.46 to the dollar, but extended the weakness to 119.68 in New York. Against the euro, the yen touched a record low of 158.03.

The British pound fell to a low of 1.9486, while the Swiss franc dropped to 1.2296 at one point, after hitting an earlier high of 1.2122.

The Australian dollar shied away from the .80 cents level after getting up to .7979. In the U.S.the aussie traded down as low as .7905.

The Canadian dollar touched 1.1714 while the New Zealand dollar fetched .7037.