Monday’s Major Forex Pairs Analysis: EUR/USD, GBP/USD, USD/JPY

EUR/USDEuro gained ground against dollar on Friday as weak U.S. data added to concerns over the outlook for the recovery, EUR/USD was up 0.48% to 1.0874 in late trade, to end the week with gains of 0.61%.The dollar weakened after the Commerce Department reported that orders for durable goods, excluding aircraft, fell 0.5% in March, after a downwardly revised 2.2% drop in February.

EUR/USD Hourly Chart

GBP/USDThe pound rallied to five-week highs against weaker dollar on Friday as a weak U.S. economic report underlined concerns that the recovery is cooling, which is likely to result in a hung parliament and an unstable coalition government, The dollar weakened after the Commerce Department reported that orders for durable goods, excluding aircraft, fell 0.5% in March, after a downwardly revised 2.2% drop in February.

GBP/USD Hourly Chart

USD/JPYYen pulled away from 119.16, the pair’s, U.S. dollar trimmed losses against the yen on Friday, easing off a three-day trough as sentiment on the greenback mildly improved ahead of a report on U.S. durable goods orders. The dollar came under pressure after the U.S. Department of Labor reported on Thursday that the number of inpiduals filing for initial jobless benefits increased unexpectedly by 1,000 to 295,000 last week from the previous week’s total of 294,000.

USD/JPY Hourly Chart

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