Euro Zone Contracts, Pound Slides
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Overall euro zone output slid in the fourth quarter, with both France and Germany contracting more than expected, and the euro fell. [CNBC]
European exports, long helped by the weak euro, are being pinched by the currency's rise. [WSJ]
The yen rose as Japan's economy contracted in the fourth quarter and the Bank of Japan held rates steady. [CNBC]
Hedge funds have reaped billions on the yen's slide over the past few months. [FT]
The British pound fell against the dollar as the disappointing economic news from Europe curbed risk appetite. [currencynews.co.uk]
South Korea kept rates on hold for a fourth straight month, but warned that a weak yen could impair growth, and the won rose slightly. [CNBC]
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