Aussie Slips on Retail Sales, Yen Slides


The Bank of Japan governor will step down earlier than planned, and expectations that a new chief will speed up monetary easing sent the yen lower. [CNBC]

The euro dipped as investors awaited Thursday's European Central Bank meeting. [CNBC]

French President Francois Hollande called for a managed exchange rate for the rapidly rising euro, setting France on course for a clash with Germany. [FT]

Australian retail sales came in well below forecasts in December and the fourth quarter, and the Australian dollar fell. []

Despite all the talk of currency wars and yen weakness, a poll of FX strategists showed they expect Asian currencies to rally in 2013. [CNBC]

With political turmoil flaring, Egypt's already low foreign currency reserves fell 10% in just the last month. [FT]

Iceland, which suspended foreign currency purchases in January after thekrona fell, said it will support the currency through market interventions. [CNBC]

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