Euro Sinks, China Talks Tough, Dollar Gets a Lift
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]
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