Talk Dents the Yen, Uncertainty Hits the Euro
Political uncertainty in Spain and Italy, worries about Cyprus, and a looming G20 meeting all weighed on the euro and sent it close to a two-week low. [CNBC]
U.S. and European policymakers are discussing issuing a message aimed at heading off a round of competitive currency devaluation. [WSJ]
The yen fell after a leading candidate to run the Bank of Japan said there are plenty of financial assets the bank could buy to boost quantitative easing, and that the bank could meet its new inflation target in two years. [Reuters]
A report in The Telegraph that the Bank of England will cut its growth forecast sent the British pound sharply lower in European trading. [dailyfx.com]
The National Futures Association, worried that retail investors are taking on credit-card debt to trade currencies, is considering a ban on plastic. [WSJ]
Brazil's finance minister, who coined the term "currency wars," says the current currency tensions would worsen if Europe joins the fray. [CNBC]
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