Forex News and Rumors – Afternoon Update

Federal Reserve Minutes Reveal Rate Insight

Minutes of the most recent US Federal Reserve Meeting suggest that the Fed is prepared to mainain interest rates in the zero to 0.25 percent range for an extended timeframe if necessary. The documents also show that in addition to buying mortgage-backed securities from cash-strapped banks, the Fed was considering buying other types of securities as well. More

UK Pound Expected to Out-Perform Euro

After marking a second straight day of advances against the euro, some analysts predict that the pound will continue to out-perfrom the euro.

“Oversold sterling is getting a bit of a bounce and the markets are waking up and realizing that the eurozone garden is not particularly rosy,” noted Jeremy Stretch, a senior currency strategist at Rabobank International in London. More

Obama Plans to Create 3 Million Jobs to Cure “Sick” Economy

Describing the American economy as “very sick”, President-elect Brack Obama said that US employment figures to be release later this week will be “sobering” and that he wants to implement a plan that will create three million jobs by 2011. More

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