LIBOR Rates Boosted by 22 Basis Points
The one-month London Inter-Bank Offered Rate (LIBOR) jumped 22 basis points to 3.43% as banks grow increasingly reluctant to lend to other banks over fears of the quality of the offered collateral.
Dollar Falls as Investors Fear Congress Will Delay Passing Rescue Bill
Partisan sniping aside, it appears increasingly more likely that Paulson has many more arms to twist before the rescue bill will pass Congressional voting. Indeed, some observers feel the bill requires considerable redrafting in order to make it palatable to U.S. lawmakers.
FSA Warns Short-Sellers
The Financial Services Authority (FSA) threatens to fine short-sellers of firms shorting firms in the UK’s financial services after last week’s meltdown on Wall Street. Investors betting against these firms were partly-blamed for the collapse of several U.S. financial giants prior to regulators in England and the U.S. suspending short-selling.
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.