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Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY (Córdoba) - The main feature of the session was Sterling weakness with GBP/USD falling to fresh 4-month lows on the back of weak industrial production data and a wider-than-expected trade deficit.

Elsewhere, the USD recovered ground after dipping during the European session. However, consolidation remains as the main theme in financial markets after central banks' shake last week and ahead of Bernanke and the Fed minutes to be published tomorrow.

Major pairs remain well within last week's ranges. EUR/USD was nearly flat at the 1.2870 zone while GBP/USD was 0.5% down at 1.4875. USD/JPY was slightly higher at 101.10 and AUD/USD holds to gains at 0.9175.

Main headlines in Europe:

Switzerland: Real Retail Sales rise by 1.8% in May

UK: Annual Industrial Production drops more than expected in May

UK: Goods Trade deficit widens slightly in May

Ecofin approves Latvia's adoption of euro

Euro corrective upside alive for now
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