Euro Slips, Aussie Dips, Spain Gets a Rating Cut
Pain in Spain dents the euro, and China's rate cut hits the Aussie - it's time for your Friday FX Fix.
The euro fell after a Spanish credit rating downgrade added to risk aversion. [CNBC]
Spain is expected to request aid for its ailing banks over the weekend, sources told Reuters. [Reuters]
China's yuan posted its lowest close in six months after the country's surprise interest rate cut. [CNBC]
The interest rate cut in China also dented the Australian dollar despite a trade deficit reported to be smaller than expected. [WSJ]
Swedish industrial production in April was lower than expected, suggesting reduced euro zone demand for Swedish exports, and the krona fell. [WSJ]
South Korea left interest rates unchanged, and the won slipped. [RTT]
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