FXstreet.com (Barcelona) - Euro and Pound have continued appreciating against the Dollar despite gloomy macroeconomic data in the Euro case and negative stock markets, while the CHF soared across the board and the Yen depreciated further on concerns about the slowdown of Japanese economy.

USD/JPY has rallied from 94.25 in Asian session all the way up to 95.75 resistance level, breaking above 94.64 for the first time since early December. The Yen is suffering from concerns of the world's second largest economy entering into recession.

One of the biggest winners of the session has been the CHF. The USD/CHF has slumped from resistance level at 1.1700/15 down to 1.1550, where the pair seems to have found support. GBP/CHF has been rejected at 1.7035, all the way down to 1.6735, the pair is trying to pick p from that level. CHF/JPY has bounced up from 80.46 and rallied past 81.75 to reach 82.80 so far.

The Euro has continued its recovery from intra-day low at 1.2662, reaching a session high at 1.2820, despite German Ifo Business Climate posting a record low and Eurozone's new industrial orders decline. One of the reasons of the EUR/USD strength could be the expectations of a considerable decline on U.S. home prices due at 14:00 GMT.

GBP/USD has been moving in a range from 1.4470 to 1.4578, despite better than expected retail sales data.