Euro Rally Fizzles, GDP Report Looms

Spain pain scuttles the euro rally and Switzerland keeps growing - it's time for your FX Fix.

The euro's Thursday rally fizzled on fresh worries about resolving the debt crisis and a grim unemployment report from Spain. [RTTNews]

Germany dampened investor enthusiasm by reminding investors it still opposes having the European Central Bank buy sovereign debt. [FT]

The dollar slipped ahead of the release of the second quarter GDP report. [dailyfx.com]

Switzerland's economic growth is set to accelerate, according to a new economic report, potentially complicating efforts to keep the Swiss franc in check. [dailyfx.com]

A few big investors are wondering whether fiat currencies - those not backed by gold or another objective standard - are headed for collapse. [CNBC]

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