Forex News and Rumors for September 3rd, 2008 – Afternoon Update

Tokyo Mitsubishi ‘interested in buying’ Lehman Brothers

Seems the Korean Bank of Development is not the only suitor for Lehman Brothers. Tokyo Mitsubishi Bank has entered the bidding to acquire the American Investment Bank. Other bidders include HSBC, three Hedge Funds and an unnamed Chinese Bank.

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Aussie Dollar Falls Against US Dollar

Unwinding of carry trades force down the Aussie dollar.

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Greenback Climbs to Nine-Month High Against Euro

U.S. Factory Orders in July beat expectations and helped the dollar add to earlier gains on the euro.

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Pound Continues to Fall

The pound had another losing day on Wednesday as it continues to give up ground to the dollar.

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