Dollar Sags, Spain Plans More Belt Tightening
Fed meeting minutes are looming and Spain has a new austerity plan - it's time for your FX Fix.
With investors fretting about a German court hearing on the euro zone bailout, the euro hovered near a two-year low against the dollar. [Reuters]
German inflation hit an 18-month low, as expected, and failed to affect the euro's direction. [dailyfx.com]
The dollar eased as investors awaited any signs of further easing in Federal Reserve meeting minutes. [FT]
Spain announced a new austerity plan, which whetted currency investors' risk appetites. [dailyfx.com]
Australia and Hong Kong will discuss the prospects for direct conversion of the Australian dollar and the yuan. [CNBC]
Foreign exchange brokersare hitting back against so-called flash traders in the currency markets. [FT]
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