Money in Motion

Euro Rises, Yen Slides, Hedge Funds Win Again


'Fiscal cliff' worries were not enough to keep risk-sensitive currencies down, and the euro rose. []

Japan's incoming prime minister pressed harder on the Bank of Japan to raise its inflation target, and the fell. [CNBC]

The New Zealand dollar tumbled Monday as worries about the 'fiscal cliff' impasse were exacerbated by thin holiday trading. [WSJ]

Hedge funds have profited handsomely from the European debt crisis. [NYT]

The yuan weakened late in quiet trading as China's central bank guided it lower. [WSJ]

Iceland may extend its currency controls - again - to prevent a rapid outflow of foreign reserves and devaluation of the krona. [FT]