The British pound recorded new lows this month after breaking the 1.54 level. With many forex trading investors looking for a safer currency to trade with, the British pound failed to gain momentum and weakened against the dollar. It also didn’t help that the Net Lending to individuals came out 0.4B short than the 0.7B forecast. In the end, the GBP forex pair traded at a low of 1.5325 and a high of 1.5472.

The euro only managed a small gain against the dollar and bounced back almost near the support level. The Preliminary CPI remained the same as the 1.6% forecast. From -19k expected outcome, the German Unemployment Change tumbled to -17k. On September 1 trading day, the EUR/USD traded between 1.2625 and 1.2742.

The US dollar posted gains against many forex majors including the Canadian dollar. The USD/CAD traded at a low of 1.0573 and a high of 1.0671. Meanwhile, the Japanese yen rose against the dollar, as the USD/JPY ended up with a low of 83.80 and a high of 84.65.

The euro has been struggling over the past weeks. Forex trading investors are veering away from the risky currency as a flurry of bad economic data continues to fuel worries over the region’s recovery. On August 24th, the euro faced a near six-week low because of worse-than-expected data in both German and European Manufacturing PMI. German Manufacturing PMI sat at 58.2 instead of the 60.9 forecast. European Manufacturing PMI came out at 55.0, 1.3 lower than expected. The EUR/USD pair traded at a low of 1.2647 and a high of 1.2729.

The pound continues on its downward trend with the GBP/USD pair trading at a low of 1.5499 and a high of 1.5619. It almost hit a four-week low for the trading day. The dollar was able to gain against most of the majors as it got a major boost from risk aversion. Following the weak global economic data, investors to the Japanese yen, prompting its gains against major currencies. The USD/JPY traded between 85.09 and 85.64.

Over the past weeks, the main concern of forex trading investors is that global recovery is slowing down. These worries have been backed by poor economic data from countries around the world. One of the currencies that has been posting rather consistent gains, however, is the Japanese yen. Due to weak global economic data, investors are turning to the yen as a safe zone. The USD/JPY pair traded at a low of 85.19 and a high of 85.82.

The US dollar was also able to gain against the majors, despite the high jobless claims data from last week. NASDAQ increased by 0.04%, while Dow Jones fell by 0.56%. Gold fell to close at $1,228.8 per ounce, and crude oil fell to close at $73.4 per barrel.

The euro is facing problems as it drops to a five-week low against the dollar. The EUR/USD pair traded at a low of 1.2663 and a high of 1.2833. The pound fell against the dollar and the yen, with the GBP/USD pair trading at a low of 1.5460 and a high of 1.5595.