Forex News and Rumors for September 15th, 2008 – Afternoon Update

Crude Prices Fall as Ike Weakens

Crude fell by more than $5 a barrel as damage reports indicate Hurricane Ike spared oil rigs and refineries in the Gulf region.

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Yen Makes Major Gains Gains the Dollar

As the Lehman Brother’s collapse drives down U.S. markets, a sell-off of loans financed in Japan pushes the yen to a ten-year high with the greenback.

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Bear Stearns, Lehman’s, Merrill Lynch – is AIG Next?

AIG – the world’s largest insurer and long-rumored to be on the brink of collapse – spent the weekend “looking at a lot of options” after its stock dropped 45% last week. AIG is expected to announce a turn-around plan that will see the sale of assets in an attempt to keep the company from bankruptcy.

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