Someone Got Into The European Central Bank's Cookie Jar, and China Got Some Heat, Kind Of
By: A mystery is brewing at the European Central Bank, and China is getting some indirect heat. Here's your FXFix for Friday.
Someone is borrowing heavily from the European Central Bank, and euro traders are on edge. [Marketwatch.com]
Still, the euro moved up this morning in the wake of of comments by a European Central Bank governor that signaled the ECB might raise interest rates to fight off inflation. [fxstreet.com]
China sneezes, and the U.S. and Australian dollars get colds: the Peoples' Bank of China raised banks' reserve requirements, and the two dollars weakened in anticipation of slower economic growth for a major trading partner. [dailyfx.com]
Federal Reserve Chairman Ben Bernanke didn't mention China by name in a speech he's delivering today in Paris, but he sure hinted that the world could use some "exchange rate adjustment". [Federal Reserve]
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