Euro Lifts, Dollar Slips, China Gives the Aussie a Boost
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Stimulus hopes lift the euro and China's rate cut makes the Aussie jump - it's time for your FX Fix.
Hopes that global policymakers will take steps to stimulate the economy kept the euro near a one-week high. [CNBC]
The dollar index, meanwhile, took its biggest hit since January on Wednesday's big boost in risk appetite. [thestreet.com]
China's giant sovereign wealth fund, seeing mounting risks of a euro zone breakup, has scaled back its European holdings. [WSJ]
The Australian dollar jumped after China unexpectedly cut interest rates. [WSJ]
The Bank of England left interest rates on hold, as expected, and the British pound rose. [WSJ]
Seeking to maintain the Swiss franc's peg to the sinking euro, the Swiss National Bank spent billions keeping the franc in check in May. [FT]
The euro's co-creator told CNBC there was "possibly some naivete" when the single currency was created without adequate structural reforms. [CNBC]
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