Forex News and Rumors for September 25th, 2008 – Afternoon Update

U.S. Bank Bail-Out Deal Finalized

Representatives from Republican and Democrat camps confirm a deal has been reached and is expected to be passed into law within a few days.

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Loonie Soars as Bail-Out Plan Confirmed

The Canadian Dollar received a lift today as Congress indicated it will approve the controversial bank rescue plan. Many observers note that the additional $700 billion this will add to the rapidly growing U.S. debt load may weaken the greenback but should help stabilize markets.

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Russia to Seek Greater Control Over Oil Prices

Russian Energy Minister Sergei Shmatko plans to bring up a list of reforms with OPEC members designed to give the world’s largest oil producer more say in how crude oil prices are set.

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