The euro was trading with an increase in the beginning of the session, but fell sharply after it became known that during the conference call by European finance ministers will discuss the conditions for the rescue of banks in Spain.

The euro fell to a minimum by more than three years against the pound, as economists had read the forecast, which says that the gauge of consumer confidence can fall to a three-year minimum, and the production will be reduced 12 per month in a row. The dollar rose against most major currencies, while European and Asian stocks fell, which caused an increasing demand for U.S. currency.

Recall that today EU finance ministers hold a conference that would consider the terms of bank bailout in Spain. It is learned that scrip tranche of 100 billion euros

The pound weakened against the dollar after a report showed that the budget deficit in June was greater than expected. The deficit, which excludes government support for banks, amounted to 14.4 billion pounds ($ 23 billion), compared with 13.9 billion pounds a year earlier. Economists forecast a deficit in the bag are his work 13.4 billion pounds.

EUR/USD: at the beginning of session, the pair traded in a narrow range, but later fell sharply and the exchange rate reached the level of $ 1.2190

GBP/USD: a pair of mid-session trading on the maximum values ​​of yesterday, but then fell sharply to $ 1.5660

USD/JPY: within a couple of sessions reached a minimum consolidated at Y78.45, little recoil, and is now trading in the minimum values ​​of the day

At 12:30 GMT, Canada will provide the consumer price index for June and core consumer price index from the Bank of Canada in June.