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Euro Leaders Give Spain More Rope, China Injects Cash

Greece and Spain drive the euro and Japan and South Korea shrink their swap - it's time for your FX Fix.

The euro fell after the IMF cut its growth forecasts for the euro zone, but later recovered some ground. [fxstreet.com]

Euro zone finance ministers said Spain does not need a bailout just yet. [CNBC]

China pumped $42 billion into the country's banks, its second largest injection in two weeks, in a bid to stimulate the economy.[WSJ]

IMF and European Union leaders failed to make visible headway in averting Greece's looming debt crunch. [WSJ]

U.K. annual industrial production declined more than expected, but the British pound showed little reaction. [dailyfx.com]

Amid ongoing tensions over a territorial dispute, Japan and South Korea will cut the size of their currency swap agreement. [FT]

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