Euro Lifts, Dollar Dips
Inflation hints from Europe spell good news for the euro, but not so much for the dollar or the yen. Time for your daily FX Fix.
The dollar is slipping today as speculators unwind dollar-long positions. [WSJ]
Meanwhile, the euro rose to a 10-month high against the yenafter a high flash inflation report from Eurostat. [Reuters]
About that yen - it seems to be the currency of choice for investors to sell against the Australian dollar, among others. [FT]
Sure enough, that Australian dollar just keeps rising. Today it was a nice solid retail sales report that got everybody going. [RTT]
Over at the G20 meetup, Treasury Secretary Timothy Geithner took a swipe at currencies that don't trade freely. Gee, what's he talking about? [Reuters]
So far, FX traders have listened closely as Fed governors have sounded hawkish notes. If the governors' view prevails, any strong U.S. economic data should start lifting the dollar. [FT]
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