Yuan Yawns at New Currency Band, Spain's Woes Mount
China loosens up and Spanish yields lift - it's time for your FX Fix.
China expanded the yuan trading band against the dollar, but it ended lower, and well within the new limit. [CNBC]
Mounting worries about Spain pushed government bond yields over six percent. [Reuters]
The euro slid on worries about Spain, but steadied on news of an improving euro zone trade balance. [RTT]
The New Zealand dollar weakened amid rumors that officials were looking for ways to counteract its stubbornly high levels. [fxstreet.com]
Brazil criticized U.S. monetary policy and the persistent weakness of the dollar, and neighboring countries supported the critique at a regional summit. [WSJ]
Currency trading by retail investors surged in 2011, even as hedge funds retrenched. [WSJ]
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