Risk Is On and Asia Is Up
Remember how Standard & Poor's rattled everybody by going negative on U.S. debt? Currency traders are so over that. Your daily FX Fix, right here.
The euro hit a 15-month high against the dollar as investors' risk appetite returned. [Reuters]
The yuan hit a record high against the dollar as policy makers indicated they would use the exchange rate as a major tool to fight inflation. [WSJ]
Asian currencies rallied, partly on the yuan news, so much that central banks in Thailand, South Korea and Malaysia intervened to slow them down. [WSJ]
The Australian dollar hit a 29-year high - again - on renewed investor interest in commodity-linked currencies. [FT]
Looking for the Bank of England to raise interest rates? Don't hold your breath. The minutes from its latest meeting gave British pound investors little to cheer. [FT]
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