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Dollar Sags, Spain Plans More Belt Tightening

Wednesday, 11 Jul 2012 | 8:11 AM ET

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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