Yuan Yawns at New Currency Band, Spain's Woes Mount


China loosens up and Spanish yields lift - it's time for your FX Fix.

China expanded the yuan trading band against the dollar, but it ended lower, and well within the new limit. [CNBC]

Mounting worries about Spain pushed government bond yields over six percent. [Reuters]

The euro slid on worries about Spain, but steadied on news of an improving euro zone trade balance. [RTT]

The New Zealand dollar weakened amid rumors that officials were looking for ways to counteract its stubbornly high levels. [fxstreet.com]

Brazil criticized U.S. monetary policy and the persistent weakness of the dollar, and neighboring countries supported the critique at a regional summit. [WSJ]

Currency trading by retail investors surged in 2011, even as hedge funds retrenched. [WSJ]



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