Forex News and Rumors for October 23rd, 2008 – Afternoon Update

Hedge Funds Not Immune from Financial Woes

The number of investors running from hedge funds increased during the last three months as hedge fund losses close in on $200 billion since August.

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Greenspan Admits he was “Partially” Wrong

While steadfastly defending the use of financial derivatives, Allen Greenspan admitted in front of a House Committee that he was “partially” to blame for not imposing wider regulations in the use of credit-default swaps.
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Loonie Falls Under $0.80

The Canadian dollar retreated to its lowest level since 2004, at one point falling as low as 78.40 U.S. cents.

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