Euro Sinks, China Reserves Dip
Italy's bond sale disappoints and the Swiss franc is rich - it's time for your FX Fix.
The euro fell after Italy faced anemic demand for its latest bond auction. [CNBC]
China's reserves slipped in the fourth quarter, indicating its days of rapid foreign-currency accumulation may be numbered. [CNBC]
The yen-dollar pair has become almost free of volatility, forcing traders to unwind positions and take losses. [FT]
The Indian rupee briefly hit a six-week high against the dollar, but gave back some gains as the euro weakened. [WSJ]
According to The Economist's Big Mac index, the Swiss franc is the most overvalued currency against the dollar. [economist.com]
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