Money in Motion

Aussie Lifts, Euro Slips, Euro Short Positions Are High

Australia is growing, China is slowing, and everyone is eager for the EU summit, already - time for your FX Fix.

Germany damped hopes for a decisve debt-crisis solution at the upcoming EU summit, and the euro fell. [Reuters]

Banks borrowed over $50 billion from the European Central Bank, signaling that some are having funding problems amid the debt crisis. [CNBC]

Euro short positions are large, suggesting there could be a short squeeze if the upcoming summit is productive. []

Strong third-quarter Australian GDP boosted the Aussie dollar. [WSJ]

British industrial production fell more than expected, and the pound slipped. The Bank of England will discuss its asset purchase program Thursday. []

The Chinese yuan has fallen to the bottom of its trading range against the dollar for six straight days as the Chinese economy slows. [FT]



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