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Safe Havens Lift, Hedge Funds Step Out

Friday, 28 Oct 2011 | 7:19 AM ET

The market digests its big move, and the European Union goes a-courting - it's time for your FX Fix.

After its dramatic rise on Thursday, the euro gave back some ground as the European Union courted China. [FT]

The dollar and the Japanese yen rose, and the Australian and New Zealand dollars slipped, as markets digested Thursday's post-summit moves. [dailyfx.com]

The Australian dollar continued its rise on optimism about the European debt deal. [WSJ]

Stepping out:hedge funds are cutting their currency exposure to the lowest level in two years. [WSJ]

Russia's central bank left interest rates unchanged, and the ruble rose. [CNBC]

The yen rose even after the Bank of Japan cut interest rates, and there is more talk of potential market intervention. [FT]

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