Following the release of German Factory Orders, which turned out to be disappointing having dropped by 1.3%, the EUR/USD pair may fall from its 1.11 handle. 

The pair is now struggling to hold onto the 1.1150 handle after not capitalising on the gains made in the previous session, which reached the 1.1200 mark. The EUR/USD is facing renewed selling pressure. 

Eurozone economic data highlighted a 1% growth for Retail Sales in November as well as a 1.3% rise for the headline CPI when compared to the same time in the previous year. 

The American dollar gained from the US Treasury bond yields and US ISM Non-Manufacturing PMI, which saw follow-through positive moves and resulted better than predicted respectively. The PMI increased to 55 last month – better than the 54.5 that was initially predicted. 

However, the pair fell to an intraday low level of 1.1134 and settled at around the 1.1100 mark. 

The GBP/USD moved as the EU's Ursula von der Leyen prepares to meet British Prime Minister Boris Johnson in order to continue discussing the final Brexit steps. In addition, a demand for the greenback continued to support the pair’s rise. 

The Cable now trades at 1.3150 and investors are looking to see the conclusions that will come from the meeting between Johnson, von der Leyen and the chief Brexit negotiator Michel Barnier.