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European Politics Give Safe Havens a Lift

Monday, 23 Apr 2012 | 8:12 AM ET

Singapore reports inflation and France's election roils Europe - it's time for your FX Fix.

European political uncertainties like the first round of the French election had the euro under pressure. [CNBC]

The Australian and New Zealand dollars eased after a soft producer inflation report boosted the odds of an Australian interest rate cut. [CNBC]

With political and economic uncertainty in Europe, the dollar and the yen were lifted by demand for safe havens. [RTT]

Inflation in Singapore jumped more than expected just weeks after the Monetary Authority surprised markets by tightening policy. [WSJ]

China's yuan ended lower as traders remained reluctant to test the wider trading band. [economictimes.com]

Factory activity in China is stabilizing, new flash PMI data suggests, raising the odds that the country can achieve a soft landing rather than a sharp economic contraction. [Reuters]

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