Yen Slips, Chinese Data Cheers Investors
By: Kelley Holland | News Writer
Chinese data gives a lift and Germany's Merkel dampens hopes - it's time for your FX Fix.
A plan to create a single banking supervisor for the euro zone is illegal, according to a secret legal opinion prepared for European Union finance ministers. [CNBC]
German Chancellor Angela Merkel gave a speech that dampened hopes for quick action on the debt crisis, and the euro slipped. [FT]
Strong Chinese economic data improved investor sentiment and lifted the euro, pound, and the Australian dollar. [WSJ]
The British pound got a lift from the first increase in U.K. retail sales in three months. [dailyfx.com]
The New Zealand dollar rose on strong Chinese economic reports . [moneycontrol.com]
Strong U.S. housing statistics and the possibility of Bank of Japan intervention sent the dollar higher against the yen.
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