Yen Gets a Lift, China Buys Forex
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Japan's economics minister warned of the downside of excessive weakness in the yen, and it rose from a 2 1/2 year low against the dollar. [CNBC]
Germany's economy contracted in the fourth quarter, and the euro fell. [CNBC]
Concerns about the U.S. debt ceiling impasse tamped down risk appetite, helping the dollar move higher against the euro. [marketwatch.com]
U.K. inflation remained at a seven-month high, and the British pound initially fell in reaction. [dailyfx.com]
China was a net buyer of foreign currencies in December, reversing November's position, in a sign of a recovering economy, and the yuan strengthened. [CNBC]
Slovenia, which adopted the euro in 2007 only to see exports and real estate values sink, has been rumored to beclose to a bailout request - but is now in political crisis. [CNBC]
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