The Japanese yen continued to decline after the U.S. had found a short-term solution to the fiscal cliff.

During the Asian session, the pair pointed to a maximum of 115.99, but fell back in Europe, finding support at 115.10.

France's PMI came in line with expectations improved by 0.1 to 44.6. Spanish index fell in December from 45.3 to 44.6, confounding forecasts 45.1. Italian PMI exceeded forecast 45.3, appreciated from 45.1 to 46.7. Greek index eased to 41.4 from 41.8. Germany PMI figures and E-17 have disappointed, falling to 46.0 (from 46.8 - 46.3 forecast) and 46.1 (from 46.2 - 46.3 forecast), respectively.