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Safe Havens Get a Lift, Aussie Takes a Hit

Tuesday, 8 May 2012 | 8:18 AM ET

Europe's elections cast a long shadow and Iran takes yuan - it's time for your FX Fix.

The euroslipped on continued worries about the political changes in France and Greecedespite strong industrial data from Germany . [dailyfx.com]

The yengained across the board as investors sought safe havens after the European elections . [RTT]

Gold futures slipped and the dollarrose in the wake of the elections in Europe. [marketwatch.com]

Australia logged its third straight monthly trade deficit , and the Australian dollarslipped. [WSJ]

Iran is accepting Chinese currencyfor some of the oil it supplies to China, partly due to U.S. sanctions. [FT]

The IMFwarned that Myanmar's kyat is about 40 percent overvalued now that it is allowed to float. [FT]

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