China Eases Up, Europe Struggles
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Europe is in crisis mode, China cuts reserve requirements, and business is up down under - it's time for your FX Fix.
The euro zone faces a crucial 10 days to save itself after agreeing to boost the bailout fund but acknowledging it may need more help from the IMF. [CNBC]
In a bid to shore up its economy, China cut its bank reserve ratio by 50 basis points. [CNBC]
European leaders' plans to boost the bailout fund did not impress investors, and the euro slipped before steadying on the China news. [CNBC]
Euro zone inflation remains high, and unemployment hit 10.3%. [RTT}
Bank rating cuts by Standard & Poor's also hit the euro. [Reuters]
Italy may be in talks with the IMF about financial support, sources said. [CNBC]
Currency-focused hedge funds had a miserable October, adding to a rough year. [WSJ]
Rising Australian business investment lifted the Australian dollar until worries about Europe forced a reality check. [WSJ]
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