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Yen Slides, 'Cliff' Talks Weigh

The yen hit yet another two-year low on expectations of aggressive easing and other stimulus moves from the Bank of Japan. [CNBC]

With disaster apparently averted in the euro zone, some of the gloomiest forecasts for the debt crisis outcome are being revised. [CNBC]

Still, new economic reports suggest the euro zone economy is likely to contract for a third straight quarter, and the euro slipped. [WSJ]

Risk-sensitive currencies like the Australian dollar traded in narrow ranges as traders kept a watch on the 'fiscal cliff' negotiations. [theaustralian.au]

Expect quiet forex trading while 'fiscal cliff' negotiations continue in Washington, as traders hesitate to commit to big positions. [dailyfx.com]

The Brazilian real opened stronger as the central bank continued its efforts to counter dollar outflows. [WSJ]

CNBC