Money in Motion

Euro Slips, European Finance Ministers Stall


European finance ministers kick the can again and risk appetite is off — it's time for your FX Fix.

European finance ministersdeferred action on a bailout for Spain, a bailout extension for Greece, and a common supervisor for Europe's banks, and the euro slipped. [CNBC]

Extending gains following the Swiss National Bank's vow to maintain its currency cap, the euro hit an 8-month high against the Swiss franc. []

Risk-sensitive currencies fell and the dollar regained a little ground as the post-QE3 announcement rally fizzled. [WSJ]

In the wake of comments on the strong yen by Japan's finance minister and with a Bank of Japan meeting approaching, the dollar rose against the Japanese currency. [Reuters]

The Australian dollar drifted lower, but traders said it was gaining support from stabilizing iron ore prices. [WSJ]

Profit taking hit the New Zealand dollar after last week's strong rally in risk-sensitive currencies. [WSJ]

Has the Fed's announcement of QE3 also unleashed a new round of verbal currency intervention? [FT]



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