Euphoria Fades, Yen and Dollar Lift
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Concerns about the prospect of more Congressional wrangling tamped down risk appetite and sent the dollar higher. [CNBC]
After hitting a 29-month low after the 'fiscal cliff' deal was signed, the yen edged higher as market euphoria faded. [CNBC]
Waning risk appetite weighed on the euro, as did the currency's failure to break through a critical level after the 'fiscal cliff' deal was reached. [WSJ]
German unemployment rose less than expected, but the report failed to offset the euro's weakness. [dailyfx.com]
A weaker than expected report on construction activity sent the British pound lower. [economy-news.co.uk]
The Egyptian pound slid again after the central bank conducted its fourth auction of foreign currency, aiming to slow the depletion of its foreign reserves. [CNBC]
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