Yen Slides, Dollar Lifts, China Backs Off


European finance ministers agreed on steps to appoint a common banking supervisor, sending the euro briefly higher. [FT]

Investors looked past the Federal Reserve's announcement of its stimulus plans and unwound some short positions in the dollar, sending it higher. [CNBC]

The Fed's stimulus plans may prompt Japan to introduce stimulus initiatives of its own, and the yen sold off. []

The Fed's stimulus plans boosted risk appetite and sent the Australian dollar to a three-month high. [WSJ]

The Swiss National Bank offered a glum economic forecast and reaffirmed its determination to keep a lid on the Swiss franc at 1.20 per euro. [CNBC]

Aggressive dollar buying by China's central bank appeared to subside, and the yuan muscled higher. [CNBC]