Session Recap: More gains for the USD

FXstreet.com (Córdoba) - The US dollar has continued to advance versus major competitors, hitting yet another 4 ½-year peak versus the yen and dragging EUR and GBP to fresh multi-month lows.

The euro was also weighed by weaker-than-expected GDP data, and dipped to 6-week low of 1.2842. The pound saw short-lived gains after better-than-expected unemployment data, but failed to sustain them and dipped to lows sub-1.5200 after the BoE Inflation Report.

Elsewhere, the USD rose to a 9-month high against the Swiss franc of 0.9746 francs and a 11-month peak against the Australian dollar.

Main Headlines in Europe (in chronological order):

Germany: Annual GDP falls 0.2% in Q1, against forecasts

Switzerland: Producer and Import Prices grow 0.2% in April

UK: Claimant Count Change falls further in April

EMU: Annual GDP contraction accelerates slightly in Q1, as expected

Switzerland: ZEW Survey - Expectations plunges to 2.2 in May

Commodities Brief – Silver falls below 23.00, gold faces bearish prospects targeting recent lows

BoE sees a modest and sustained recovery over the next three years

European equity markets climb despite weak GDP in EMU

Forex: EUR/USD keeps… falling!