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Euro Treads Water, China Outperforms

Monday, 15 Oct 2012 | 8:09 AM ET

Euro awaits a move by Spain and China fools the forecasters - it's time for your FX Fix.

With traders awaiting word on whether Spain will seek a bailout, the euro treaded water. [CNBC]

Rifts widened between top finance officials at the IMF/World Bank meetings, possibly hampering their ability to find ways to jointly help the global economy. [WSJ]

Better then expected economic reports from China boosted risk appetite and sent the dollar and yen lower. [dailyfx.com]

Norway's trade surplus declined in September, but the krone showed little reaction. [RTT]

Standard & Poor's cut South Africa's sovereign debt rating late Friday, and the rand slumped. [CNBC]

Fed Chairman Ben Bernanke encouraged developing countries to allow their currencies to appreciate, since forcing them lower raises inflation risks and reduces monetary independence. [WSJ]

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