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European Central Bank Hikes and Portugal Bails

Portugal throws in the towel, the Bank of England holds steady, and the European Central Bank tightens its purse strings — it's time for your Eurocentric FX Fix.

Portugal's caretaker government asked for assistance from the European Union. [CNBC]

Hours later, the European Central Bank raised interest rates. The euro traded off once the widely anticipated move was official. [CNBC]

Also as expected, the Bank of England held interest rates steady, and the pound slipped against the dollar. [Reuters]

Elsewhere, Brazil announced it was continuing its battle against inflation. Sort of. [FT]

The Australian dollar is stronger - again - this time on better than expected jobs data. [RTT]

The Japanese yen hit a five-month low against the dollar.[dailyfx.com]

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