Dollar Lifts, Euro Dips, the IMF Gets Gloomy

PUBLISHED: Wed, 10 Oct 2012 11:42:22 GMT
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Kelley Holland

Source: Dollar Lifts, Euro Dips, the IMF Gets Gloomy

Earnings weigh on risk and the IMF issues a euro zone warning – it’s time for your FX Fix.

Concerns about corporate earnings dampened risk appetite, and the dollar held near a one-month high. [CNBC]

Leaders’ stuttering progress in addressing the euro zone crisis put pressure on Spanish and Italian bonds, and sent the euro lower. [CNBC]

The IMF warned in a new report that the euro zone is at risk of a “downward spiral of capital flight, breakup fears and economic decline.” [actionforex.com]

Downbeat consumer sentiment data sent the Australian dollar lower. [WSJ]

The Bank of Japan said the strong yen was a factor in its latest rate cut, which could fuel market expectations for a new cut if the currency rises further. [WSJ]

Reports that South Africa’s labor strife may be close to a resolution sent the battered rand higher. [WSJ]

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