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Dollar Slips, But Euro Gets No Lift

The dollar's in the dumps and hedge funds are getting gloomy - it's time for your FX Fix.

Ongoing reaction to Friday's GDP report kept the dollar soft against a basket of currencies, but the euro failed to get a lift. [CNBC]

Investors are balancing disappointing economic news from Britain against a relatively hawkish Bank of England, and the British pound is benefiting. [WSJ]

Hedge funds are becoming more bearish on the euro zone's prospects, and positioning themselves accordingly. [CNBC]

The Swiss National Bank posted a first-quarter loss, underscoring the challenges it faces in curbing the franc's strength as investors seek safe havens. [Reuters]

Euro zone inflation slowed less than expected in April, despite the economic downturn, limiting the central bank's interest rate options. [RTT]

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