Session Recap: Ugly US data weight the Dollar; USD/JPY remains below 100.00

FXstreet.com (San Francisco) - The Greenback traded lower on Wednesday against its major competitors as investors were cautious on the back of an ugly US durable goods data that surprised market. Italy has done a new step to normalization after president Napolitano called Enrico Letta to form government.

The EUR/USD recovered losses from 1.2950 to trade above the 1.3000 level again; The GBP/USD moved sideways between 1.5240 and 1.5270 during almost all the session. The USD/JPY advanced a little more on its 100.00 conquest and currently it's trading at 99.60.

Main headlines in the American session:

US: Durable Goods Orders fell 5.7% in March

Enrico Letta named Italian PM

American equity markets edge higher despite weak US durable goods

Yen crosses under pressure as US equity indices trade near lows

Fitch cuts the Old Lady to AA+

Forex: EUR/USD back above 1.3000