The euro fell below $1.30 for the first time in almost a month as European Central Bank President Mario Draghi said monetary policy will remain stimulative, dimming the relative allure of assets denominated in the currency.

The 17-nation currency has declined 2.3 percent against the greenback since Federal Reserve Chairman Ben S. Bernanke said on June 19 the U.S. central bank may begin paring back bond purchases this year.

The ECB's monetary policy "will stay accommodative for the foreseeable future," Draghi said in a speech at the French National Assembly in Paris. "We have an open mind about all other possible instruments that we may consider proper to adopt," he said, adding that an exit remains "distant."

The Frankfurt-based ECB cut its benchmark interest rate to a record-low 0.5 percent in May after six consecutive quarters of contraction in the 17-nation currency-bloc economy.

U.S. gross domestic product rose at a revised 1.8 percent annualized rate in the first quarter, down from the previous estimate of 2.4 percent, the Commerce Department said. The first quarter rate was projected to hold at 2.4 percent, according to a Bloomberg News survey of economists.

Reports yesterday showed U.S. durable goods orders rose more than forecast in May and consumer confidence for June exceeded projections.

The pound fell versus the greenback as Bank of England policy maker David Miles renewed his call for more asset purchases.

A "slight expansion" of the bank's quantitative-easing program would be helpful, he told a conference in London today.

EUR/USD $1.2900, $1.2930, $1.3000, $1.3035, $1.3100, $1.3170

USD/JPY Y97.00, Y98.00, Y98.25, Y98.30, Y98.40, Y98.50, Y98.85

EUR/JPY Y127.00, Y129.20

GBP/USD $1.5485, $1.5500, $1.5600

USD/CHF Chf0.9250, Chf0.9465

AUD/USD $0.9150, $0.9200, $0.9250, $0.9275, $0.9300, $0.9375

USD/CAD C$1.0570

Data

06:00 Germany Gfk Consumer Confidence Survey July 6.5 6.6 6.8

06:00 Switzerland UBS Consumption Indicator May 1.46 1.46

06:45 France GDP, q/q (Finally) Quarter I -0.2% -0.2% -0.2%

06:45 France GDP, Y/Y Quarter I -0.4% -0.4% -0.4%

08:00 United Kingdom MPC Member Miles Speaks

09:30 United Kingdom BOE Financial Stability Report June

The dollar rose sharply against the euro, which has been associated with the speech by ECB President Draghi. During his speech, the lower house of parliament, Mario Draghi said that so far the Central Bank has made successful efforts to restore the European economy, but noted that monetary policy alone can not solve all the problems. HTA program has helped to restore the market, and accommodative monetary policy is also intended to support the growth, said Draghi, but the euro-zone governments need to continue to implement reforms in order to see further progress.

"If growth stops because the economy is not producing, or because of lost competitiveness, the Central Bank can not do anything about it," said Draghi. ECB President also called on the EU to increase efforts to create a banking union in the eurozone.

Add that contribute to the strengthening of the U.S. dollar expectations publication of U.S. data. Recall that at 12:30 GMT U.S. Department of Commerce shall provide summary data on the growth of the U.S. economy in the I quarter of 2013. The lion's share of analysts and experts agree that the growth of the U.S. economy in the period from January to April of this year to reach 2.4% in annual terms. Note that the current estimate of analysts is similar to the latest revised data from the U.S. Commerce Department. This suggests that the summary data that will be presented today, are not likely to differ from the forecast of analysts by more than 0.1% in either direction.

The Japanese yen rose against the dollar, although it retreated from highs. Since the market is now not so much for a pair of drivers from the Japanese side, riveted the attention of many to today's release of the U.S. GDP in the year, which will be a major catalyst for the couple.

Experts note that the subdued profitability of Japanese bonds recipe yen weakness, but because of the decision of FOMC last week, it seems that the events unfolding in this direction. Against this background, UBS economists left their forecast at 110 yen per dollar by the end of 2013.

Value of the pound fell sharply against the dollar, which has been associated with the publication of the report on the financial stability of the Bank of England, as well as comments from the members of the Monetary Policy Committee of the Bank of England, AD Miles, who said that the folding of quantitative easing should not have on economic growth and inflation, the same strong impact as purchase. Meanwhile, he added that the UK may require further stimulus. He also said that the central bank is not raised "bubbles"

Add that to his semi-annual report on the financial stability of the Bank of England warned borrowers and financial institutions over soaring rates. In addition, it was noted that the uncertain situation in the euro area may also impact on the economic outlook of the country.

According to the report, in the short term, "risks may manifest itself if the global long-term rates rise sharply from current historically low levels, or if credit spreads widen." In the long term, "risks may accrue if the hunt for yield increase, and the assets are undervalued."

Thus, the Central Bank asked for financial supervisors to evaluate the stability of banks in inflated interest rates. The results of the study will be presented in September. the bank also recommended to protect the financial system against Britain cyber attacks, which are becoming more and more "private and sophisticated."

EUR / USD: during the European session, the pair fell from $ 1.3012

GBP / USD: during the European session, the pair fell to $ 1.5353

USD / JPY: during the European session, the pair fell to Y97.31, but then stepped back to Y97.68

At 12:30 GMT the U.S. will release final data on changes in GDP, the GDP price index, an index of personal consumption expenditures index and core personal consumption expenditures in Q1. At 22:45 GMT New Zealand will announce the trade balance for May.

EUR/USD

Offers $1.3235/40, $1.3200/10, $1.3175/80, $1.3160/65, $1.3100/10

Bids $1.3030, $1.3000, $1.2980, $1.2960/50, $1.2920/10

GBP/USD

Offers $1.5530/35, $1.5495/500, $1.5450/60, $1.5442

Bids $1.5359, $1.5345/40, $1.5330, $1.5300, $1.5280/70

AUD/USD

Offers $0.9415/20, $0.9395/00, $0.9370/75, $0.9345/50, $0.9320/25

Bids $0.9220, $0.9200, $0.9180/75, $0.9150, $0.9125

EUR/GBP

Offers stg0.8595/600, stg0.8575/80, stg0.8540-42, stg0.8500/05, stg0.84985

Bids stg0.84695, stg0.8465/60, stg0.8445/40, stg0.8420

EUR/JPY

Offers Y128.75/80, Y128.59/67, Y128.45/50, Y127.80/90, Y127.65/70

Bids Y127.05/00, Y126.50, Y126.46, Y126.20

USD/JPY

Offers Y98.65/70, Y98.35/40, Y98.20/25, Y97.75/80

Bids Y97.33, Y97.20, Y97.05/00, Y96.80, Y96.55

EUR/USD $1.2900, $1.2930, $1.3000, $1.3035, $1.3100, $1.3170

USD/JPY Y97.00, Y98.00, Y98.25, Y98.30, Y98.40, Y98.50, Y98.85

EUR/JPY Y127.00, Y129.20

GBP/USD $1.5485, $1.5500, $1.5600

USD/CHF Chf0.9250, Chf0.9465

AUD/USD $0.9150, $0.9200, $0.9250, $0.9275, $0.9300, $0.9375

USD/CAD C$1.0570

The yen pared declines against its major peers as demand for haven assets was boosted by a sixth day of Chinese equity declines, disappointing expectations that comments from the People's Bank of China would calm markets.

Japan's currency rebounded from a 0.4 percent drop versus the dollar as the Shanghai Composite Index slid as much as 1.9 percent.

The dollar held a five-day gain against the euro before data that will probably confirm U.S. economic growth accelerated in the first quarter. The common currency touched a three-week low after European Central Bank President Mario Draghi said yesterday the region still requires loose monetary policy. He is scheduled to speak today in Paris.

EUR / USD: during the Asian session the pair fell to $1.3055

GBP / USD: during the Asian session the pair traded in the range of $1.5400/30

USD / JPY: during the Asian session the pair fell below Y97.50

A much quieter calendar on Wednesday, with only limited data expected and a dearth of central bank speakers. The European calendar gets underway from 0610GMT, with the release of the July GFK consumer confidence numbers. Economists are looking for a number of 6.5, unchanged from the June number, although recent surveys could suggest a surprise to the upside. At 0930GMT, the BOE June FPC Stability Report will be released. At 1130GMT, the UK Chancellor George Osborne will outline the latest 4-year spending plans to Parliament, again seen centring on further public sector spending cuts.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3064 -0,45%

GBP/USD $1,5423 -0,08%

USD/CHF Chf0,9379 +0,47%

USD/JPY Y97,95 +0,23%

EUR/JPY Y128,13 -0,09%

GBP/JPY Y150,07 -0,49%

AUD/USD $0,9258 +0,08%

NZD/USD $0,7743 -0,13%

USD/CAD C$1,0512 +0,10%

06:00 Germany Gfk Consumer Confidence Survey July 6.5 6.6

06:00 Switzerland UBS Consumption Indicator May 1.46

06:45 France GDP, q/q Quarter I -0.2% -0.2%

06:45 France GDP, Y/Y Quarter I -0.4% -0.4%

08:00 United Kingdom MPC Member Miles Speaks

09:30 United Kingdom BOE Financial Stability Report June

10:00 United Kingdom CBI retail sales volume balance June -11 4

12:30 U.S. PCE price index, q/q Quarter I +3.4% +3.4%

12:30 U.S. PCE price index ex food, energy, q/q Quarter I +1.3% +1.3%

12:30 U.S. GDP, q/q Quarter I +2.4% +2.4%

14:30 U.S. Crude Oil Inventories June +0.3

16:00 Canada Gov Council Member Lane Speaks

22:45 New Zealand Trade Balance, mln May 157 427