With investors awaiting key US economic data, the greenback ended the day little changed against the other majors. Sterling did firm slightly against the dollar and euro even though the British Trade Deficit was shown to have widened last month.
GBP
The Sterling held steady against the dollar and euro, moving in tune with broader currency activity, however the widened UK trade deficit caused it to falter briefly.
USD
Trading on the US dollar was fairly subdued although pressure is beginning to weigh on the greenback. Concern is growing over the political situation in Iran, and the announcement that Iran has now acquired nuclear technology.
EUR
In news that surprised investors, Germany's ZEW index, fell against forecasts for a rise. With Germany regarded as the eurozone's largest single economy, the index is seen as barometer of confidence for Europe as a whole. According to the ZEW institute, analysts were worried about the impact of high oil prices and the risk for a general slowdown of the world economy.
JPY
The Yen was sold-off against all of the major currencies except for the US dollar. The yen remains under pressure from the country's heavy reliance on oil imports. With crude prices edging towards its all time highs, Japan's current pace of recovery could be threatened.