Euro Slips, Eastern European Currencies Feel Its Pain

Bank of England goes downbeat, and Eastern European currencies get punished - it's time for your FX Fix.

The euro hit a one-month low against the dollar after traders said the European Central Bank bought Italian bonds, but failed to push yields much lower. [CNBC]

President Obama, voicing concern about the European debt crisis, blamed it on a lack of political will. [CNBC]

The World Trade Organization will examine whether trade rules can be used to punish countries that manipulate their currencies. [WSJ]

The Bank of England issued a gloomy economic forecast and economists said more quantitative easing was more likely, but the pound held up. [guardian.co.uk]

The Bank of Japan kept interest rates steady, and the yen was steady as well. [dailyfx.com]

Eastern European countries are being punished for the euro zone's woes. [FT]

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