Forex News and Rumors for September 8th, 2008 – Afternoon Update

Russia agrees troops pullout from Georgia heartland

On Monday Russian President Dmitry Medvedev ordered Russian troops out of the core of Georgia. Troops will remain in South Ossetia and Abkhazia as Medvedev hosted EU acting President Nicolas Sarkozy.

Read the full article

U.K. House Prices to Reduce by 25%

Graham Beale, the chief executive of the Nationwide Building Society thinks house prices in the U.K. could fall as much as 25% from their peak, pushing 2.5 million homeowners into negative equity. He does not expect to see signs of recovery in the housing market until 2010.

Read the full article

LSE Breaks Down in Biggest Failure in Eight Years

The London Stock Exchange was offline for most of the day, resuming trading only at the end of the day. Meanwhile, European shares rallied while the pound continued to lose to the dollar.

Read the full article

Ike Threatens the Gulf Coast

Residents of Florida and the Gulf Coast brace themselves as Ike picks up intensity after battering Cuba.

Read the full article

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.