Yen Sags, Dollar Drifts, Greece Goes for Austerity
Greece bites the bullet and Japanese GDP sags - it's time for your FX Fix.
Greece assed an austerity budget that is key to unlocking further financial aid for the country. [WSJ]
Despite Greece's passage of a tough austerity budget, the euro held just above a recent two-month low ahead of a meeting of euro zone finance ministers. [CNBC]
Japan's GDP shrank more than expected, and the yen slipped. [nasdaq.com]
Bank of Japan Governor Shirakawa said Japan will continue monetary easing in light of the economic risks of a strong yen. [Reuters]
With U.S. bond markets closed, the dollar was mostly flat and trading volume is likely to be low. [marketwatch.com]
The Brazilian real opened slightly stronger thanks to exporters selling dollars. [WSJ]
Turkey's central bank governor said a "measured" rate cut may be in the offing if the lira's strength continues. [WSJ]
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