Forex News and Rumors – Afternoon Update

Dollar Falls on Employment News

The dollar fell against the Euro today as analysts expect tomorrow’s Non-Farm Payroll report to show the highest unemployment rate since 1993. This will place even more pressure on the Federal Reserve to lower interest rates.

Mexican Peso Climbs on Rate Cuts

With many countries cutting interest rates today, investors turned to higher-yielding securities. The peso jumped half a percent to 13.5308 per US dollar. More

BoE Rate Cut Pulls Down the Pound

The pound fell to its weakest point against the euro since May 2002 as the Bank of England reduced interest rates to the lowest level since 1951. More

Oil Falls Below $45

Light sweet crude fell nearly 3 dollars this afternoon in New York to $43.88 a barrel. This represent a 6 percent drop from yesterday’s close. More

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