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]
Tune In: CNBC’s “Money in Motion Currency Trading” airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.
Learn more: The essential vocabulary for currency trading is on Key Currency Terms. Top strategies are broken down for you in Currency Class.