The US Dollar lost ground against other major currencies after the release of bleak data on the U.S. economy and, while it was sluggishy heading to 1,360 in early trade yesterday, the euro appreciated to more than 1,363 dollars yesterday.

The GDP of the United States shrank 2.9% annualized in the first quarter of 2014, and not only by 1% as previously estimated. Yet economists expected a downward revision to about 1.5%.

The Commerce Department said the review was for the fact that the increase in consumption and expenditure of households is lower than estimated previously, and a contraction in the most important exports.

In addition, orders for durable goods fell by 1% in May, where the consensus anticipated a decline of just 0.1%. Overall, they were penalized by lower purchases of machine tools and communications equipment.

Versus the Japanese currency, the euro remains sluggish at 138.7 yen, while the dollar fell to 101.7 yen. Finally, the single currency will appreciated slightly from GBP to reach 0.802 book.