Forex News and Rumors – Afternoon Update

Dollar Suffers Biggest Two-Day Loss Since December

Traders dumped dollars for euros today pushing the dollar down to 1.2828 per euro by 2:30 PM New York time. More

Canadian Dollar Gains on US Dollar

The Canadian dollar – known as the “loonie” – gained on the US dollar for the third straight day as traders across the board reduced their US holdings. More

Volker Says Crisis Could Be Worse Than The Depression

Paul Volker – former head of the Federal Reserve and now a key advisor to President Obama – said today that the global economy could be collapsing at a rate and depth even worse than the Great Depression of the 1930s. More

Crude Prices Fall After Yesterday’s Gains

After jumping more than 14 percent yesterday on reserve concerns, oil closed down 6.5 percent today. More

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