GO
Loading...

Euro Sinks, China Talks Tough, Dollar Gets a Lift

Tuesday, 29 May 2012 | 7:49 AM ET

Spain's pain hits the euro and China and Japan go direct - it's time for your FX Fix.

The euroedged closer to two-year lows on worries about Spain's rising borrowing costs. [CNBC]

China ruled out further economic stimulus, adding to pressure on the euro and lifting the safe haven dollar. [fxstreet.com]

China and Japan will start direct trading of both their currencies on Friday, a move that will boost the yuan's profile overseas. [WSJ]

The Australian and New Zealand dollars held onto Monday's gains, but trading was choppy as soaring Spanish bond yields boosted risk aversion. [CNBC]

Emerging European currencies are facing a challenging week ahead of a series of interest rate decisions. [WSJ]

---------------CURRENCY FUTURES:

Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.

Learn more: The essential vocabulary for currency trading is on Key Currency Terms. Top strategies are broken down for you in Currency Class.

Talk back: Tell us what you want to hear about at moneyinmotion@cnbc.com.

Featured