Euro Holders Await More Greek Drama, Swiss Talk Tough
By: Kelley Holland | News Writer
Investors cover short positions in riskier currencies and the Swiss vow to keep the franc's peg — time for your FX Fix.
The dollar softened as investors covered short positions on riskier currencies ahead of the Greek elections, and the euro and pound made small gains. [FT]
Japan is drawing up contingency plans to protect its economy and financial markets in case the upcoming Greek elections lead to turmoil and capital flight. [CNBC]
Spanish and Italian bond yields soared a day after Moody's cut Spain's credit rating. [CNN]
The Australian and New Zealand dollars were subdued after New Zealand's central bank left interest rates unchanged, as expected. [CNBC]
The Swiss franc was little changed after Swiss National Bank left policy rates unchanged and repeated its pledge to do what it takes to maintain the franc's peg to the euro. [WSJ]
Argentina is cracking down on a thriving black market in dollars that has created a greenback shortage, even as the black-market peso exchange ratehas it well below official levels. [WSJ]
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