Forex updates- USD, JPY hold near week's highs vs. Euro

This week the JPY and USD held on to some of their strongest levels after bleak U.S. retail sales data rekindled worries about the financial system, prompting investors to reduce bets on risky assets. The data on Wednesday's showed sales at U.S. retailers fell for a second straight month in April, hollowing expectations that the economy would soon pull out from recession.

Forex updates
The euro knock down to its lowest this week at $1.3525 on trading platform EBS as trader’s dumped antagonistic short-USD positions collected earlier in the week. The euro then shed its losses to stand 0.2 % down at $1.3573. It strikes a seven-week high of $1.3722 on Wednesday.

The GBP dipped as far as $1.5099 before edging up a fraction. On Wednesday, the Australian and New Zealand dollars went down roughly 2 % against the USD, which were both holding firm positions near the preceding day's lows.

On Wednesday The Bank of England said that it expected weak UK inflation and the economy to recuperate slower than previously forecasted causing Sterling to remain under pressure.