Dollar Reverses Course, Pound Steadies


Investors warily awaited data on U.S. inflation, and the dollar index retreated from recent highs. [CNBC]

Japan's parliament approved the new pro-stimulus Bank of Japan leadership, and the yen steadied. [CNBC]

Euro zone inflation was confirmed at 1.8 percent, allowing the European Central Bank to stay accommodative, and the euro rose slightly. []

The Australian dollar closed in on the 100-yen level as strong economic reports buoyed the currency. [CNBC]

Bank of England Governor Mervyn King said the pound is now properly valued, and it rose slightly off recent lows. [FT]

Portugal will receive its next tranche of aid, and a one-year extension on meeting its deadline for implementing spending cuts. []

The Korean won fell for a seventh straight day on dollar buying by foreigners. []

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