Forex News and Rumors

Retiring MPC Member Says UK Could Lose Another Million Jobs

Retiring member of the Bank of England’s Monetary Policy Committee told a British television program that the UK could lose 10,000 jobs a month for the next eight to ten months before abating. More

Oil Rebounds on Increased Demand in China and Weak US Dollar

Oil appears to have support at $61 a barrel as increased demand in China combined with a struggling US dollar pushed oil futures to $61.57 a barrel in New York this morning. More

Obama Administration Set to Table Plan to Limit Executive Pay

In an interview for US television that will air over the weekend, Treasury Secretary Timothy Geithner said that the historical approach to executive payment in the financial sector was partly responsible for the ongoing economic crisis. According to Geithner, the paying of huge year-end bonuses led to excessive risk-taking and the Obama administration would table a plan within the next few weeks that would align compensation with performance. More

Bank of Japan Upgrades Economic Outlook

As expected, the Bank of Japan opted to keep the overnight call rate at 0.1 percent. The Bank did note however that exports and production levels appear to have stabilized and despite further weakening of the overall economy, the pace of decline is slowing. More

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