Forex News and Rumors – Afternoon Update

Oil Falls on Weak Demand

Oil fell below $34 a barrel in New York today as weak demand continues to drive down prices. More

Trichet Hints at Further Rate Cuts

After reducing rates by half a percentage point today, European Central Bank President Jean-Claude Trichet hinted that addtional interest rate cuts could result when ECB officials meet again in March. More

Russian Ruble Falls to All-Time Low

The Russian Ruble fell to an all-time low against the dollar as the Russian Central Bank continues to devalue the currency in an attempt to reverse further depletion of foreign exchange reserves. More

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