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Forex News and Rumors for September 26th, 2008

Yen Gains as Washington’s Rescue Plan Stalls

After losing ground to the dollar for four days as a bank bail-out plan seemed imminent, news late last night that the tentative deal had fallen through gave the yen a boost in early trading.
Read the full article [1]

Experts Advise Shorting Euro

As confidence in the eurozone falters – particularly with regards to the German economy – analysts predict that the euro will fall sharply against the dollar.
Read the full article [2]

UK Property Values Continue to Fall

Housing reports show a 1.9% decline in UK property values – this brings the total reduction for the year to 4.6%.
Read the full article [3]

Washington Mutual Fails as Bad Debt Soars

Even if Congress finally passes the controversial $700 trillion rescue plan it will be too late to save Washington Mutual which was forced to shut down late Thursday. With over $300 billion in assets, it becomes the largest bank failure in U.S. history.
Read the full article [4]

Republicans Blamed for Scuttling Rescue Plan

Rep. Barney Frank – Chair of the House Financial Services Committee – claims Republican in-fighting caused the tentative deal reached on Thursday to fail.
Read the full article [5]

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.

Scott Boyd

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