Aussie Slips, South Korea Goes for the Gold
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South Korea diversifies reserves away from the dollar, and Australia's central bank stays pat — time for your FX Fix.
The House vote to approve the debt deal failed to lift the dollar. [RTT]
The yen retreated on talk that officials will intervene to stem its rise. [marketwatch.com]
The Australian dollar fell after the central bank left interest rates unchanged. [WSJ]
The Swiss franc is near parity with the euro, and Swiss businesses aren't happy at all. [WSJ]
South Korea has nearly tripled its gold reserves in a move to diversify away from the dollar and other currencies. [FT]
Brazil's real is weaker on disappointing manufacturing data and concerns about global growth. [WSJ]
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