After being traded at levels near 1.2940-43 the euro tumbled to 1.2899, after the release of data to show the overall economic activity in Euro zones first two largest economies. The preliminary value of Germanys Gross Domestic Product (GDP) during the first quarter of the year showed, that economy contracted at the rate of 0.2% annually.
The forecasts for this crucial indicator pointed an expansion by 0.2% on annual basis, while the GDP during the previous period was revised to 0.3% yearly. The preliminary data about France also showed a decline in the value of the quarterly Gross Domestic Product by 0.4%, as this contributed additionally to euros retreat.
Additionally, EUR/JPY cross marked a decrease in value to 131.85. EUR/GBP pair was also losing on the day, trading at 0.8451. EUR/CHF was slightly lower, trading at 1.2443.
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