Government report announced an increase on unemployment numbers and forex traders went for higher-yielding currencies. Dollar and yen made a drastic advanced against the euro.

The European currency declined versus the dollar and yen as Jean-Claude Trichet, European Central Bank President, stated that recovery will most likely start for the region by mid 2010. Dollar climbed up across the boards as China renewed its support for the greenback, dismissing speculations that the Asian country wanted to look for a new international currency.

The New York Times published that the “American economy lost 467,000 jobs in June and unemployment rate edged up to 9.5 percent.” This has been the worst downturn since the Great Depression. Numbers are an indication that recession is not over yet.

"It's not the catastrophic numbers we saw earlier this year, but they're still pretty damn lousy," said Keith Hembre, chief economist with First American Funds.

Dollar Index, which tracks the greenback against the euro, Canadian dollar, yen, Swedish krona and yen gained over 1.5, the highest level in four months.