Overall euro zone output slid in the fourth quarter, with both France and Germany contracting more than expected, and the euro fell. [CNBC] European exports, long helped by the weak euro, are being pinched by the currency's rise. [WSJ] The yen rose as Japan's economy contracted in the fourth quarter and the Bank of Japan held rates steady. [CNBC] Hedge funds have reaped billions on the yen's slide over the past few months. [FT] The British pound fell against the dollar as the disappointing economic news from Europe curbed risk appetite. [currencynews.co.uk] South Korea kept rates on hold for a fourth straight month, but warned that a weak yen could impair growth, and the won rose slightly. [CNBC] Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.

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