NEW YORK (AP) — The dollar fell against most major currencies Wednesday as Standard & Poor's outlook downgrade on U.S. debt early this week continued to weigh on the greenback.

The euro jumped to $1.4519 in midday trading, surpassing highs it hasn't seen since January 2010. The euro was worth $1.4340 late Tuesday.

Standard & Poor's Ratings Service's decision to downgrade its outlook on U.S. sovereign debt Monday was a reminder that the Federal Reserve has kept its monetary policy loose, "while the rest of the world is entering tightening cycles," said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto.

The British pound rose to $1.6402 from $1.6317 late Tuesday. The dollar fell to 0.8910 Swiss franc from 0.8993 and fell to 95.36 Canadian cents from 95.69 Canadian cents.