The EUR traded yesterday near a 3 month low versus the USD as the European Commission expressed concerns about a strong EUR. Monday, the EUR was at $1.4283 from $1.4335 late Friday and at Y130.25 from Y129.57. The U.K. Pound was at $1.6051 from $1.6127.

The Swiss Franc touched its strongest level since March against the EUR extending its advance past the 1.50 level on speculation the Swiss National Bank has relaxed its resistance to gains in the currency.

A slow news day is expected today from the Euro-Zone today ahead of the long holiday weekend, the release of the British Current Account and Final GDP at 9:30 GMT will likely provide some volatility for the GDP.