3:37 PM
Waa Haa Haa
By: Kelley Holland, Monday, 12 Mar 2012 | 8:16 AM ET ..
The yuan slips and Myanmar gets ready to float - it's time for your FX Fix.
The yuan fell after China posted a trade deficit and the central set the yuan midpoint sharply lower. [WSJ]
The dollar and the yen
rose as Chinese trade data pointed to a possible global economic
slowdown and boosted demand for safe-haven currencies. [dailyfx.com]
The Chinese trade deficit and strong employment data from the U.S. sent the Australian dollar lower. [WSJ]
Economists cut their forecasts and now expect Brazil's benchmark Selic interest rates to hit 9% by the end of 2012. [Reuters]
Euro zone
finance ministers are expected to sign off on Greece's second bailout
package and train their sights on Spain and its changed deficit target.
[Reuters]
Myanmar's
government will hold trial FX auctions in March, and then allow the
kyat, its currency, to float in April, a source said. [Reuters]
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