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Dollar Weakens, Euro Steadies, Yen Shrugs

Friday, 27 Apr 2012 | 8:16 AM ET

The GDP report looms and Spain's rating cut bites - it's time for your FX Fix.

The dollar weakened ahead of the release of new GDP data. [FT]

Standard & Poor's cut Spain's credit rating by two notches, dragging down the euro and the Australian dollar. [WSJ]

An uneventful Italian bond auction eased investors' concerns and helped the euro recoup its losses after Spain's downgrade. [CNBC]

The Bank of Japan expanded its bond buying program, as expected, and the yen fell but quickly recovered. [Reuters]

German consumer confidence is set to deteriorate in next month's report, a new survey shows. [RTT]

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