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Euro Is Punished, Yen and Swiss Franc Soar

Tuesday, 12 Jul 2011 | 9:57 AM ET

The euro takes a beating and the trade deficit dents the dollar - time for your FX Fix.

Euro zone leaders are trying to find new ways to help Greece, but euro traders have punished the currency anyway. [CNBC]

Rumors of buying by the European Central Bank are helping the stem the euro's slide. [businessinsider.com]

Investors want safe havens, and that is lifting the yen and the Swiss franc. [FT]

The yen's surge to a five-month high against the dollar is being "watched closely" by Japanese officials. [CNBC]

The U.S. trade gap widened more than expected, and it took the wind out of the dollar's sails. [CNBC]

South Korea is increasingly focused on fighting inflation, and will likely be intervening less to curb the won's strength. [FT]

China's foreign exchange reserves soared, highlighting the risks of holding down the value of the yuan. [FT]

CURRENCY FUTURES:

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