Forex News and Rumors – Afternoon Update

Oil Falls on Weak Employment News

Oil prices dropped below 67 dollars a barrel in New York today as an unexpected increase in US unemployment forced many to face the likelihood that meaningful recovery in the world’s largest economy is still on hold. More

US Unemployment to Continue to Rise: White House

A White House spokesperson said today that the administration expected unemployment to continue to rise to at least 10 percent within the next two to three months. More

Swiss Franc Declines on Word of SNB Intervention

The Swiss Franc fell by as much as 0.3 percent against the euro today on word that the Swiss National Bank is prepared to adapt its monetary policy to prevent the currency from further appreciation. More

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