The single European currency regained slightly against the dollar on Friday although somewhat less positive than thought by those who had followed last week U.S. statistics. At this time, the euro holds 0.10% against the dollar at 1.3564, roughly the same as yesterday.

The European currency was severely punished: in fact, the ECB has engaged in monetary transactions of importance, lowering its interest rates and announcing new bank refinancing. In addition, the U.S. employment report for May proved better than expected, which indicates a favorable dynamic U.S. economy.

But this morning, the euro resumed more vigorously against the yen, but was directionless against sterling while remaining neutral in the face Swiss franc.

The dollar may actually be penalized by the latest U.S. statistics. Yesterday retail sales were lower than expected and jobless claims rose above the consensus.

The side of the yen, the Bank of Japan left its policy unchanged while an optimistic sentiment surrounding the economic outlook, and further that Prime Minister Shinzo Abe wants to reduce the corporate tax.

Of course, the geopolitical situation keeps deteriorating in the middle east. But still many traders do not think the implosion in Iraq has a major impact on the currency pairs.

Traders will learn this afternoon of producer prices in the United States for the month of May, and a preliminary estimate of the index of consumer confidence from the University of Michigan.