Euro Stays Aloft, Yen Keeps Sliding
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Improved sentiment in the wake of positive comments last week from the European Central Bank sent the euro to an 11-month high against the dollar. [CNBC]
The OECD says that indicators suggest the euro zone economy is on track to stabilize, while growth in other leading economies will likely pick up. [WSJ]
At the same time, euro zone production unexpectedly dropped in November as the sluggish southern economies offset signs of growth in Germany. [FT]
With Japan's prime minister continuing to press the central bank to set a higher inflation target, the yen weakened to a 2 1/2-year low against the dollar. [CNBC]
Solid risk appetite lifted the Australian and New Zealand dollars, and selling pressure increased on the Swiss franc. [dailyfx.com]
China's yuan firmed to close at another record high as the dollar weakened against a bullish euro. [CNBC]
The Hungarian forint hit a seven-month low, and the economy ministry says investors are speculating against the currency on the advice of Nouriel Roubini. [WSJ]
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