In Europe, Fear, in Turkey, Cheers

Everybody's worried about the euro zone, but Turkey gets some good news — it's time for your FX Fix.

Yields soared at the latest Italian government bond auction, and the euro slipped. [CNBC]

American officials worry that if Germany's Angela Merkel doesn't act more decisively on the euro zone crisis, it will worsen - a lot. [NYT]

Merkel is meeting today with Finland's prime minister to discuss ways to resolve the euro crisis. Finns are split on the Greek bailout. [demotix.com]

The dollar closed above its 200-day moving average, a key technical level. [marketwatch.com]

A report on British banks released Monday increases the odds that Britain's banks will be downgraded, analysts say, and that stands to weaken the pound. [WSJ]

The Turkish lira rose on strong GDP data. [CNBC]

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