Forex News and Rumors – Afternoon Update

Oil Falls Despite OPEC Production Cuts

Despite OPEC’s cutting of over two million barrels of oil a day – a total representing 9 percent of OPEC’s daily production – prices still fell to their lowest level in four years. More

Bank of Expects Swiss Franc to Outperform Euro

Analysts with the Bank of America today said that the Swiss franc may appreciate up to 8 percent against the euro by the end of 2009. More

British Pound Stands to Lose Most with Rate Cuts

A Merrill Lynch report earlier today noted that of the major currencies, the British pound was the most “at risk” should the central banks follow through on further interest rate cuts. More

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