Trade Deficit Hits the Yen, Greek Troubles Hit the Euro

Japan has a trade deficit and Australia has inflation - it's time for your FX Fix.

Worries about the Greek debt talks overwhelmed positive news on German business sentiment, and the euro slipped. [Reuters]

Europe needs "massive monetary easing" to end the debt crisis, says economist Nouriel Roubini. [CNBC]

Third-quarter British GDP fell more than expected, and some Bank of England members at their latest meeting said more quantitative easing is likely.[dailyfx.com]

Japan had its first trade deficit in 31 years in 2011, and the yen fell against the dollar. [WSJ]

Stronger than expected inflation in Australia lowered expectations of an interest rate cut and lifted the Aussie dollar. [WSJ]

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