Singapore Dollar Sings, Euro Sags
The Singapore dollar is on a roll from high inflation, but sovereign debt worries are pulling on the euro — it's time for your FX Fix.
China's FX reserves exceeded $3 trillion and its money supply is growing. More inflation, anyone? [Reuters]
Talk of a debt restructuring for Greece is dragging on the euro. [Reuters]
The Singapore dollar hit a record high after the Monetary Authority said it would adjust the currency band higher. No kidding: first quarter GDP came in at a whopping 23.5%. [RTT]
The BRICS - Brazil, Russia, India, China and South Africa - are going after the dollar, especially its reserve-currency status. [CNBC]
The dollar index hit a fresh 16- month low before recovering somewhat. The producer price index helped. [Marketwatch]
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