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Contagion Worries, Nuclear Fears

Euro traders wonder how far eurozone debt problems will spread, and everyone worries about Japan's nuclear catastrophe — it's time for your Terrible Tuesday FX Fix.

The yen is rising as traders take profits on their short positions. [Reuters]

Traders are also taking profits on their Australian dollar buys, and the Aussie dollar has traded off more than 1% against the greenback. [Reuters]

Japan raised its assessment of its nuclear disaster, investors pulled in their horns, and the dollar is feeling the effects. [dailyfx.com]

Here are three scenarios for how Portugal's debt problems might or might not hit the rest of the eurozone - and none of them look great for the euro. [guardian.co.uk]

British inflation fell unexpectedly, reducing the odds of an interest-rate increase there next month, and the pound is selling off. [CNBC]

Those Federal Reserve doves are at it again. [CNBC]

CURRENCY FUTURES:

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