Forex News and Rumors – Afternoon Update

Canadian Dollar Gains on Oil Price Increase

Canada’s dollar – nicknamed the “Loonie” – gained 0.1 percent on the US dollar today as an increase in crude oil prices helped the Loonie rebound on work markets. More

Swiss National Bank May Sell Francs Into the Currency Market

The Swiss National Bank said earlier today that it was prepared to sell Swiss francs into the market to increase the supply of the currency to prevent the franc from appreciating further. With a zero-bound interest rate already in place, increasing the supply of the currency is the most effective tool remaining in the Swiss National Bank’s arsenal to prevent the franc from appreciating too quickly. More

Toyota Surpasses GM in Total Sales

With 8.972 million vehicles sold in 2008, Toyota Motor Corp. has surpassed General Motors’ sales of 8.356 million vehicles to become the world leader in automobile sales. More

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