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Dollar Lifts, Yuan Slips, Myanmar Loosens Up

Monday, 12 Mar 2012 | 8:16 AM ET

The yuan slips and Myanmar gets ready to float - it's time for your FX Fix.

The yuan fell after China posted a trade deficit and the central set the yuan midpoint sharply lower. [WSJ]

The dollar and the yen rose as Chinese trade data pointed to a possible global economic slowdown and boosted demand for safe-haven currencies. [dailyfx.com]

The Chinese trade deficit and strong employment data from the U.S. sent the Australian dollar lower. [WSJ]

Economists cut their forecasts and now expect Brazil's benchmark Selic interest rates to hit 9% by the end of 2012. [Reuters]

Euro zone finance ministers are expected to sign off on Greece's second bailout package and train their sights on Spain and its changed deficit target. [Reuters]

Myanmar's government will hold trial FX auctions in March, and then allow the kyat, its currency, to float in April, a source said. [Reuters]

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