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FX Roundup: Dollar Slips, Yen Dips, ECB Hopes Boost Euro

PUBLISHED: Mon, 13 Aug 2012 12:09:16 GMT

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Kelley Holland

Source: FX Roundup: Dollar Slips, Yen Dips, ECB Hopes Boost Euro

Weak growth hits the yen and some African nations want to oust the buck: it’s time for your FX Fix.

The dollar came under pressure from expectations of central bank stimulus (explain this)and European Central Bank support for the euro zone. [CNBC]

Hopes for European Central Bank action nudged the euro higher. [CNBC]

Weaker than expected quarterly growth in Japan prompted talk of possible interest rate cuts and sent the yen lower. [FT]

A milder than expected decline in Greek GDP and a weak U.K. business confidence report sent the euro higher against the British pound. [fxstreet.com]

Several African nations are trying to strengthen their thinly traded currencies by taking steps to curb the local use of dollars, including threats of jail time. [WSJ]

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