Forex News and Rumors for September 12th, 2008

Japan’s Economy Output Declines

Japan’s economic output has recorded its sharpest quarterly fall in almost
seven years as the country appears to be falling into recession.

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Gold Falls to a One-Year Low

Investors continue to sell-off gold as it’s attraction as an inflation hedge fades.

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Banks More Willing to Borrow Through Discount Window

The Federal Reserve’s Discount Window is considered by some to be a “lender of last resort” and for this reason, is sometimes shunned by commercial banks seeking operational funds. However, banks are turning to the Discount Window more frequently – together with the Term Auction Facility (TAF) the Fed established last December – to acquire the funds needed for their daily operations.

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Lehman Shares Slide Further as Survival Prospects Dim

Fears intensify about the survival of the troubled Wall Street investment
giant, as it races to find a buyer or investor.

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No Let-Up in Inflation, Warns Bank of England Governor

Bank of England Governor Mervyn King has warned British MPs
that inflation, now at 4.4%, is set to exceed targets once again, an
indication of continuing tough times ahead.

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