Forex News and Rumors for September 3rd, 2008

Loonie Falls as Bank of Canada Leaves Interest Rate Unchanged

Despite rumors of an interest rate cut, the Bank of Canada has opted to leave its key rate at 3%.

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UK Consumer Confidence Continues to Fall

Consumer confidence in the U.K. plunged to its lowest level in four years providing further evidence that Britain’s economy is teetering on the brink of a recession.

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Dollar Up as Oil Price Retreats

The dollar continued to make headway on the euro and GBP overnight as oil slips below $110 a barrel.

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