Euro Treads Water, China Outperforms
By: Kelley Holland | News Writer
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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