Euro Slips, Aussie Dollar Dips, BRICS Go Local

PUBLISHED: Thu, 29 Mar 2012 12:01:37 GMT

Kelley Holland

Source: Euro Slips, Aussie Dollar Dips, BRICS Go Local

Confidence shrinks in Europe and year-end weighs on the yen – it’s time for your FX Fix.

The yen rose, boosted by demand linked to the end of Japan’s fiscal year. [CNBC]

A general strike in Spain and shrinking economic confidence sent the euro lower. [FT]

Lower commodity and stock prices weighed on the Australian dollar in Asian trading. [WSJ]

Ahead of the release of Canadian manufacturing data, the U.S. dollar and the loonie were trading at parity. [fxstreet.com]

The South African rand steadied ahead of a monetary policy meeting, a day after falling sharply Thursday on news of a Standard & Poor’s rating cut. [Reuters]

In a move to insulate themselves from U.S. and euro zone economic woes, export-import banks in Brazil, Russia, India, China and South Africa will extend credit facilities to each other in local currencies. [WSJ]



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