The European session on Tuesday lead to market optimism among investor but it was quickly subdued by disappointing US data
The expectations, that a Greek debt deal might be struck as soon as Wednesday offered support for the single currency, which rose to a daily high at 1.3212. The positive German unemployment data also offered stimulus. The massive selloff came only after the fundamental data from US.
The Chicago PMI index was down at 60.2 points, while consumer confidence registered a decrease with 3 points to 61.1 The Schiller housing price index also proved unsatisfactory. As a result the EUR/USD pair slid to 1.3083 at the daily close.
The Euro was performing weakly against its other major counterparts as well. It depreciated with about 0.5% against the yen, closing at 99.76. The downfall against the GBP was even more significant, where the Euro ended at 0.8300.
The dollar continued to retreat against the Japanese yen, getting closer to the intervention levels from October 2011. The British pound also registered an increase against the greenback, appreciating from 1.5709 to 1.5759.
The gold ended higher for another consecutive session, reaching daily highs at $1747 per troy ounce. The precious metal has increased with 11% since the beginning of the year, while Silver was up whole 19%, trading at $33.20 per troy ounce at present
