Forex News and Rumors – Afternoon Update

US regulator vows to crack down on oil-price speculators

Commodity Futures Trading Commission considers trading caps to curb spectacular variation in crude prices More

Yen Beats Dollar, Franc as Haven of Choice, Bank of Tokyo Says

The yen was the best-performing major currency this month on concern the global economic recovery will be slow. The dollar depreciated on average about 1 percent versus the yen in the third quarter over the last 20 years, the Bank of Tokyo said.
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Oil drops below $63

Oil prices fell for the fifth straight day Tuesday, with a barrel costing $10 (U.S.) less than it did just one week ago when crude hit a new high for the year.
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G8 needs to wake up, pursue growth, Brown says

The world needs to wake up to the scale of the downturn and stay focused on restarting growth in recession-hit economies, British Prime Minister Gordon Brown told Reuters on the eve of the G8 summit.
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S&P hits 10-week low amid talk of new stimulus

Stocks fell to their lowest level in more than two months on Tuesday as talk of a second government stimulus plan added to concerns that the economy is not recovering as fast as hoped, ahead of what is forecast to be a weak earnings season.
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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza