EU Summit Hangs Over Euro, British Pound Gets a Lift
The euro steadies ahead of the summit and the British go shopping - it's time for your FX Fix.
Germany's Angela Merkel said there were no quick euro zone fixes, even as Spain's Mariano Rajoy warned that Spain's borrowing rates are unsustainable. [CNBC]
The euro traded in a tight range as investors failed to identify a clear direction ahead of the EU summit. [WSJ]
Stronger than expected retail sales data gave the British pound a bounce. [fxstreet.com]
Pre-EU summit jitters failed to dent the Australian and New Zealand dollars, but investors seemed to be avoiding taking large positions. [CNBC]
A Chinese official says the yuan will face serious depreciation pressure this year, possibly prompting intervention. [WSJ]
China will promote the further development of the offshore yuan market in Hong Kong. [Reuters]
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