The Great Britain pound fell as speculators cut their bets on an interest rates hike by the UK central bank, but the currency attempts to pare its losses as the economic data is expected to show that inflation has accelerated.

The Australian dollar dropped against the euro after the report showed that the number of home loan in Australia unexpectedly decreased. The currency erased losses versus the US dollar and the Japanese yen as commodities and stocks slowed decline.

The euro rose today even as today’s meeting of the European Union policy makers in Brussels can result in restructuring of Greece’s debt, fueling concerns about Europe’s credit crisis.

The Swiss franc strengthened today before the meeting of the European Union finance ministers today, where they’ll discuss the debt issues.

The euro slumped during this week, falling to the lowest level in six weeks against the US dollar, as Greece and its debt returned to the forefront of news and discussions, making speculators unwilling to invest in the shared European currency.

The US dollar gained today against all most-traded currencies, except the yen, as equities declined because of the persisting concern about the European credit crisis.

The Canadian dollar fell today, sliding for the third day versus the US dollar and the Japanese yen, as crude oil fell together with North American equities.

The euro rebounded versus the US dollar today after the reports showed that the growth of the German and French economies sharply accelerated in the first quarter.

The Japanese yen jumped today after bombers killed at least 73 people in Pakistan, supposedly in response to the death of Osama bin Laden.

The US dollar weakened today against the euro as rally of stocks and commodities make investors less enamored of safer assets. The Japanese yen also suffered from falling demand for safety, allowing the greenback to hold its ground against this currency.