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Someone Got Into The European Central Bank's Cookie Jar, and China Got Some Heat, Kind Of

A mystery is brewing at the European Central Bank, and China is getting some indirect heat. Here's your FXFix for Friday.

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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]

CURRENCY FUTURES

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