TOKYO (Reuters) - The euro slipped to a fresh 12-year low against the US dollar on Thursday as the common currency continued to buckle under pressure felt since the European Central Bank launched its massive quantitative easing scheme at the start of the week.

The euro was down 0.3 per cent at US$1.0515 after reaching US$1.0508, its lowest since March 2003.

The ECB kicked off its 1 trillion euro bond-buying programme on Monday and has dented the euro's appeal by driving yields of many eurozone bonds deeper into negative territory and others to all-time lows.