The European Union summit looms, and the news gets worse from Britain - it's time for your FX Fix.
Dimming prospects for progress at the European Union leaders'
Germany may be willing to move sooner than expected on shared liability for euro zone debt, Finance Minister Wolfgang Schauble said. [WSJ]
Encouraging U.S. economic data on durable goods and home sales reduced prospects for further stimulus and sent the dollar lower in Asian trading. [RTT]
The Australian and New Zealand dollars staged surprise rallies ahead of the EU summit. [CNBC]
Britain's double dip recession was confirmed by a downward revision of fourth quarter GDP, and the pound dipped slightly. [actionforex.com]
Moody's downgraded eight Brazilian banks and the country's stock exchange operator, citing emerging markets' vulneratiblity to the euro zone debt crisis. [FT]
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