EU Summit Hangs Over Euro, British Pound Gets a Lift
By: 
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]
-------------------------
CURRENCY FUTURES:
Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.
Learn more: The essential vocabulary for currency trading is on Key Currency Terms. Top strategies are broken down for you in Currency Class.
Talk back: Tell us what you want to hear about at moneyinmotion@cnbc.com.
