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Holding Steady in Europe, Reaching High in China

The European Central Bank decides to keep interest rates at the low, low rate of 1%, but hints that could change as early as April. Meanwhile, in China, a central bank governor predicts the yuan will become a reserve currency. Your daily FX fix, right here.

The European Central Bank decided to keep interest rates at 1%. But that could change as early as April. Not surprisingly, the euro is having a very good day.

There was less good news in Britain, where new economic data suggested the economy is weaker than hoped and the pound slid. [trading-point.com]

At least one Chinese central bank official has serious plans for the yuan, and China is allowing more international business to be yuan-based. [CNBC]

U.S. regulators may be prepared to exempt foreign-exchange derivatives from new regulations. [FT]

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