Euro Slips, Japan Slows, Iranian Rial Slides
Japan is slowing and Italy talks tough - it's time for your FX Fix.
Italian Prime Minister Mario Monti suggested Italy doesn't want to participate in the European Central Bank's bond-buying program, and the euro slipped. [dailyfx.com]
Japan cut its second-quarter growth estimate in half, raising recession fears. [FT]
Growing expectations that the Federal Reserve will roll out more economic stimulus sent the Australian dollar higher. [WSJ]
George Soros issued a plea to Germany to lead the euro zone out of its crisis via growth, or leave the euro. [FT]
Turkey's economy grew lessthan expected in the second quarter, adding to the pressure for interest rate cuts. [CNBC]
The cumulative impact of Western sanctions on Iran sent the Iranian rial to a record low against the dollar.
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