Session Recap: EUR/USD suffers after GDP, GBP/USD at 6-month lows

Today's session was driven by pessimism toward the shared currency after the European Union and some of it members reported the economy contracted more than expected in the Q4. The EUR/USD weakened further after ECB Vice President Constancio suggested negative interest rates are a possibility. Elsewhere, the pound fell to a fresh 6-month low sub-1.5500 versus the greenback, while the yen continued to consolidate within its Monday's range.

Main Headlines in Europe (in chronological order):

Germany: Quarterly GDP falls 0.6% in Q4

EMU: GDP contraction accelerates more than expected in Q4

ECB's Constancio suggesting negative interest rates are a possibility

Forex: EUR/USD falls further on ECB Constancio words

European markets dive on Eurozone wider recession

US: Initial Jobless Claims fell to 341K

American equity markets stumble Thursday