Euro Slips, Investors Reach for Yield

PUBLISHED: Fri, 20 Jul 2012 12:15:48 GMT

Kelley Holland

Source: Euro Slips, Investors Reach for Yield

Aid to Spain leaves the euro in pain and commodity prices lift the loonie – it’s time for your Friday FX Fix.

The euro slipped, and looked vulnerable to more losses, on worries about Spain’s fiscal problems.[CNBC]

Euro zone finance ministers are formally approving Spain ‘s banking sector bailout packagetoday. []

Yield-hungry investorsare taking the Australian and New Zealand dollars to new heights. [CNBC]

Strong commodity pricesand demand for yield pushed the Canadian dollar to a two-month high against the U.S. dollar and a record high against the euro. [Reuters]

The yuan hit the bottom of its trading band as companies, concerned about the Chinese economy, continued to buy dollars. [FT]

The South African rand looked poised for more weakness after falling on Thursday’s interest rate cut.[WSJ]



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