The dollar remained weak across the board as fears over the US economy continued to plague the currency. A set of poor data yesterday appeared to confirm investors' worries that the world's largest economy is either in, or heading towards, recession. The Philadelphia Fed survey of manufacturing activity fell to minus 24.0 in February from minus 20.9 in January -- its lowest levels since the 2001 recession, and way below analysts' expectations. The Conference Board index of leading economic indicators fell for the fourth month in a row, marking a 2 pct drop over the past six months -- also the biggest decline since 2001. "It appears that the market can no longer be wholly placated with assurances that monetary policy will become increasingly accommodative," he said. "Indeed, with this scenario fully factored-in, investors are now watching and waiting in desperate hope that the US economy will manage to dodge recession until monetary policy makes its lagged impact," he added. With a lack of US data today, markets will look for guidance from Fed policy maker Richard Fisher. "Fisher is known to be a hawk and hence will place some attention on the upside risks to inflation, but markets are likely to overlook this as 'old news'," said BNP Paribas analysts. The euro benefited from the weak Philly Fed and Conference Board numbers, climbing to its highest levels against the dollar in two and a half weeks, where it gained further support from a sturdy set of flash euro zone PMI surveys. The services PMI in particular rose to 52.3 from 50.6, confounding expectation for a drop. However the single currency's gains were capped mid-morning by a weak factory orders report from the euro zone. Industrial orders fell 3.6 pct in December from November, worse than analysts' forecasts for a 1.4 pct drop. The annual rate of growth was 2.1 pct, much lower than the 7.8 pct penciled in.