Dollar Slips, Risk Currencies Lift on 'Cliff' Deal


The yen hit an 18-month low against the euro and the dollar also fell as the last-minute passage of a 'fiscal cliff' deal restored risk appetite. [CNBC]

Relief that the 'fiscal cliff' has been avoided sent the safe-haven dollar lower against the euro. []

A euro zone manufacturing purchasing managers' index fell more than first estimated, but it didn't curb the euro's rise in the wake of the 'cliff' deal. [FT]

Activity in Britain's factories rose sharply, adding to the British pound's rise following Congressional agreement on a 'fiscal cliff' deal. []

The last-minute agreement on a plan to avoid the 'fiscal cliff' sent the Australian dollar higher in late trading. [WSJ]

Chinese manufacturing PMIs were mixed, but in aggregate they suggest the economy is continuing to recover. []