Forex News and Rumors – Afternoon Update

Yen Gains on Dollar and Euro

The yen gained against both the euro and the dollar today as investors continue to unwind carry trades to pay off yen-based loans that were used to purchase higher-yielding securities. More

Peso Records Third Straight Day of Gains

The Mexican peso marked its third consecutive day of gains as investors returned to the peso on speculation that recent actions by the US Federal Reserve to encourage consumer spending will result in greater demand for Mexican exports. More

Oil Falls Nearly $3

After a minor rally yesterday, oil futures for January delivery fell $2.87 to $51.63 a barrel as news continue to suggest that the US is headed for a prolonged recession. More

Gold Back in Demand

Gold prices have fluctuated for the past few weeks but investors seem ready to, once again, turn to gold as a “safe” investment in uncertain times. At today’s close, gold has seen five consecutive winning days – its longest rally since July. More

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