Forex News and Rumors – Afternoon Update

Ten Banks Approved to Repay Loans

As expected, the Treasury Department has released the names of ten banks permitted to now repay loans received last fall as part of the bank rescue plan. More

Demand High for US Treasuries

Demand for Treasury notes maturing in five years or less exceeded expectations as yields rose to a seven-month high of 1.906 percent in the US government’s $35 billion auction. More

Falling Dollar Boosts Crude

Crude oil futures increased for the first time in three days as the dollar stumbled against the euro. Oil for July delivery was up $1.24 to $69.33 a barrel by mid-day in New York. More

Fiat Agrees to Extend Bid Beyond June 15

In response to yesterday’s stay of proceedings that effectively blocks the transfer of Chrysler to Fiat while Justice Ginsburg decides whether to allow an appeal by a handful of Chrysler investors, Fiat said that it will still go through with the deal even if the details cannot be wrapped up by the initial completion date of June 15th. More

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