ForexBasicStep.com

With the release of new economic data showing that the American economy’s pace of recovery is slowing, the U.S. Dollar yesterday slipped to its lowest level this year against the Japanese yen.

The Pound-Swiss Franc pair has been flying under the radar screen of media, with most attention given to the EUR-CHF and the repetitive SNB interventions that targeted that cross.

Unbending in the past with this recent rise power, the Euro’s will, will be tested again. There is a forecast to aid it’s climb into territory it has not tread upon for a long time.

The common currency Euro rose versus the U.S. Dollar in early morning trading in New York, striking the highest level in more than 2 months.

The most recent week has been very slow for the EUR/CAD. For the better part of July, this pair posted strong moves, but right now, it is consolidating.

The USD rallied vs the EUR but declined against the JPY on Wednesday as U.S. durable goods orders were weaker than was expected and added to fears about financial recovery in the world's greatest economy.

The U.S. Dollar slipped versus the Japanese Yen in early New York trading following the release of U.S economic data.

The EUR hovered directly under a key level vs the USD on Wednesday, affected by profit-taking after it hit an 11-week record, while the AUD decliens as inflation data pared the chances of an interest rate rise next week.

The commodity currencies and in particular the Australian and New Zealand Dollars, have been appreciating strongly for some time now.

The trend, refusing to bend, receives some support today. The EUR/USD, gets news to nudge it up further.