Switzerland Gross Domestic Product s.a. (QoQ) came in at -0.2% below forecasts (-0.1%) in 1Q

The US dollar recovered from session lows and erased partial losses versus the yen in the early European trades, with USD/JPY inching closer towards 124 barrier, as the greenback managed to regain footing against its major competitors while market now focus on the second reading of the Q1 US GDP data for further impetus.