NEW YORK (CNN/Money) - The dollar continued its laborious climb against the euro Wednesday while Treasury prices fell on weak demand for new notes.

Late Wednesday in New York, the euro bought $1.360, down slightly from $1.3608 late Tuesday. Earlier in the day, the euro touched a new high against the dollar for the fifth straight session at $1.3646 and tested its lifetime high against the yen as well.

The dollar rose against the yen, buying ¥103.93 versus ¥103.07 late Tuesday.

Little news was released to help guide investors. The Mortgage Banker's Association reported mortgage applications and refinancings fell in the latest week, signaling a slowdown in economic expansion.

The news did little to soothe traders already worried that the U.S. will not attract enough foreign investment to plug the current account deficit. A continued shortfall will only pressure the dollar further.

Thin trading volumes in the period between Christmas and New Year's also exacerbated dollar losses.

"This is just profit-taking," Greg Anderson, senior currency strategist at ABN Amro in Chicago, told Reuters "There was no event trigger at all. People had a good trade on (selling dollars) either side of Christmas and now it's just coming off."

Treasury prices fell modestly after an auction of $24 billion in new two-year notes drew little demand in a holiday-thinned market.

The benchmark 10-year note lost 5/32 to 99-15/32 to yield 4.32 percent, up from 4.30 late Tuesday. The 30-year bond also shed 5/32 of a point to 106-15/32 to yield 4.93 percent, up from 4.92 on the session. Bond prices and yields move in opposite directions.

The two-year traded at 99-18/32 to yield 3.10 percent, while the five-year traded at 99-6/32 to yield 3.68 percent.