Session Recap: USD softer, GBP extends gains to multi-year high

FXStreet (Córdoba) - The USD weakened further and extended losses against major rivals Friday with the pound as the best performer, having reached a 33-month high.

The EUR/USD broke above 1.3700 and hit a 3-week high of 1.3715 after German and Eurozone economic growth narrowly beat expectations. The GBP/USD pierced the 1.6700 mark and touched its highest since May 2011 at 1.6723. The USD/JPY fell back below 102.00 while AUD/USD regained the 0.9000 mark.

Meanwhile, gold remains supported by lower US yields and a weaker USD, with the metal hitting a 3-month high of $1319 an ounce.

During the New York session watch for US data, including import prices, industrial production, capacity utilization, Reuters/University of Michigan consumer sentiment.

Main Headlines in Europe:

Germany: Quarterly GDP rises 0.4% in Q4

European Open: Roses are red, violets are blue, USDJPY’s in the red, and the Nikkei is too

Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and BTMU

EMU: Annual GDP increased 0.5% in Q4

EMU: Trade surplus narrows to €13.9B in December