Forex News and Rumors – Afternoon Update

Yen Gains on Dollar

The yen gained ground today as investors turned away from the dollar on growing fears over the U.S. economy. More

Lower Demand Leads to Oil Refinery Output Cuts

The U.S. Energy Department reported that slowing demand for gasoline and other fuel products have forced U.S. refineries to reduce output and are currently running at 84.3 percent of capacity. Lower demand has also pushed down crude oil prices with January futures falling 23 cents to $46.73 a barrel. More

U.S Beige Book Shows Economy Has Weakened

The US Federal Reserve Beige Book shows that economic activity has weakened across the US. This is leading analysts to predict that the Fed will reduce interest rates – possibly even down to zero percent – by the end of January. More

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