Dollar Finds Traction, Yen Slips on Stimulus Hopes

Tuesday, 23 Oct 2012 | 7:55 AM ET

Corporate earnings weigh and Hong Kong steps in - it's time for your FX Fix.

Disappointing corporate earnings are creating the beginnings of risk aversion, and the dollar found traction. [dailyfx.com]

In the absence of positive news developments, the euro slipped but found support at the 1.3000 level. [fxstreet.com]

The Australian and New Zealand dollars backed off one-month highs against the yen ahead of a new Australian inflation report. [CNBC]

Expectations that the Bank of Japan ill increase its monetary stimulus at its upcoming meeting briefly sent the dollar over the critical 80-yen level. [CNBC]

Investors aren't anticipating an interest rate cut from the Bank of Canada today, but expectations of a more dovish tone sent the Canadian dollar lower. [FT]

The Chinese yuan hit a new high against the dollar on heavy dollar selling by Chinese banks. [WSJ]

Hong Kong's central bank sold its own currency for the second time in less than a week in an attempt to halt its rise against the U.S. dollar. [FT]

Currency Futures

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