Forex News and Rumors for September 23rd, 2008

Dollar Falls Following Bernanke’s Warning

The dollar fell against the euro after Federal Reserve Chairman Ben Bernanke warned that failing to implement the proposed credit bailout plan could push the U.S. economy into a recession.

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Canadian Dollar Gains on Unexpected Growth

The loonie marked four straight days of gains as August inflation reports showed growth that was slightly higher than expected. Increases in crude prices also tend to buoy the Canadian dollar.

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LSE Takes a Hit as Questions Arise Over Buyout Plan

Shares fell on the London Stock Exchange as doubts grow over the effectiveness of the U.S. government’s plan to buy the bad debt within the nation’s banking system.

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Congress Demands Stronger Controls Over How Rescue Plan to be Implemented

While it appears that the Bush administration’s controversial buyout plan will be approved by Congress, several demands – including limits on payouts to bank executives – are still being debated.

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