The European common currency slipped against majors after reports showed that euro area growth, led by Germany, eased more than analyst's forecasts.

Euro area 17 nations' pace of growth eased in the second quarter as the GDP index declined to 0.2%, below estimates of 0.3% and the first quarter's expansion of 0.8% as the escalating debt woes weighed on confidence.

In Germany, Europe's largest economy which used to lead the pace of recovery in the region, recorded a drop in second quarter GDP to 0.1% from the revised 1.3% which was 1.5% initially.

Fears and worries returned once again to markets as worries increased the sluggish growth pace would continue this year, where some of the hopes that spread yesterday after the better-than-expected contraction in Japan lost its effect.

The Japanese economy shrank 1.3% on annual basis, lower than forecasts of 2.5% contraction.

Leading the incline, the Swiss franc halted its drop against majors, following the latest monetary intervention by the SNB to curb the franc's advance, as investors resorted to the franc as a safe harbor amid the spreading woes.

Concerning the EUR/CHF pair, it fell after three days of advance to trade around 1.1201, where it recorded a high of 1.1346 a low of 1.1176.

Moreover, the yen also advanced against all the majors except the Swiss franc, while the dollar rebounded against a basket of major currencies to 74.12 compared with the day's opening level of 73.84, according to the dollar index.

in regards to the USD/JPY pair, it continued its plunge declining slightly today to trade around 76.70 after touching a high of 76.90 and a low of 76.68.

The trading range for today is among key support at 75.25 and key resistance now at 79.55.

Moving to the British pound, it halted its rise to trade around 1.6370, where the rise in inflation to 4.4%, above forecasts of 4.3% did not have significant impact on the pair.

So far, the pair has recorded a high of 1.6400 while the lowest level was depicted at 1.6321, whereas the trading range for today is among key support at 1.6070 and key resistance at 1.6630.