Euro Lifts, Dollar Slips, Iran Cracks Down
By: Kelley Holland | News Writer
China grows, Spain sells bonds, rating agencies predict a Greek default - it's time for your FX Fix.
Both Standard & Poor's and Fitch predicted that Greece will go through an orderly default. [CNBC]
A strong investor sentiment survey in Greece, a decent debt auction by Spain, and robust economic data from China all gave the euro a lift. [CNBC]
Even though Standard & Poor's cut its credit rating on the European bailout fund, encouraging data from Europe and China pushed the dollar lower. [RTT]
China's fourth-quarter GDP growth of 8.9 percent lifted the Australian and New Zealand dollars. [CNBC]
Tighter correlations between currencies and other assets are drawing the interest of hedge funds and some macro investors. [WSJ]
In a bid to stem the rial's steep slide, Iran sent police into the streets to crack down on informal currency trading. [WSJ]
-----------------------------
CURRENCY FUTURES:
Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.
Learn more: The essential vocabulary for currency trading is on Key Currency Terms. Top strategies are broken down for you in Currency Class.
Talk back: Tell us what you want to hear about at moneyinmotion@cnbc.com.
