Dollar Lifts, Emerging Markets Submerge

Bernanke's gloom lifts the dollar, but look out below in emerging markets - time for your stormy FX Fix.

The dollar hit a seven-month high as investors shed risk after the Federal Reserve's glum forecast. [CNBC]

Meanwhile, emerging market currencies are sliding sharply on the grim economic outlook. [WSJ]

Commodity currencies fell and the Russian ruble hit a 2 1/2 year low on the Fed's gloomy outlook. [CNBC]

In Europe, new data shows the private sector contracting, and the euro is taking a hit. [WSJ]

Countries' runaway spending and subsequent debt crises are endangering the euro itself, says a European Central Bank study co-authored by Jurgen Stark. [CNBC]

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