Dollar Lifts, Yen Stalls, Banks' FX Trading Profits Slip
The fiscal cliff walk begins and the yen takes a breather - it's time for your FX Fix.
The yen paused in its selloff, but was poised for its biggest weekly loss since late June thanks to expectations of monetary easing. [CNBC]
With negotiations on the 'fiscal cliff' pening, the safe-haven dollar strengthened against the euro. [fxstreet.com]
Confusing messages on a possible banking union from European Central Bank members sent the euro lower. [dailyfx.com]
Germany's Bundesbank chief said the question of a writedown of Greek debt was "open." [WSJ]
With central bank interventions denting trading strategies, and volatility low, investment banks' profits on currency trading are slipping. [FT]
Investors with strong stomachs are starting to buy the Iraqi dinar, but it's an illiquid trade fraught with risks. [CNBC]
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