The Dollar advanced against most of its major counterparts after the release of worse than expected Consumer Confidence data revived demand for the safe heaven currency. The Conference Board's index of consumer confidence dropped to 50.4 this month from a revised 54.3 in June, a five-month low.

The USD is currently at $1.2995 per EUR, after reaching $1.3046 earlier in the day, the weakest level since May 10. The Yen dropped 1.1% to 114.12 per EUR, from 112.89. The Yen also slid to 87.83 per USD, from 86.88.

Early Euro-Zone data pushed the common currency to its highest level since May as the market research company GfK AG said German consumer sentiment index will rise to 3.9 in August from a revised 3.6 this month, beating economists' expectations.