Forex News and Rumors – Afternoon Update

BofA May Be Next Bank to Require Emergency Funds

Just hours after it was announced that Citigroup had worked out a deal to receive $25 billion from the government in emergency funding in exchange for handing over a 36 percent equity stake, analysts say the Bank of America will soon require the same sort of rescue. More

Dollar Rises Against Most Majors

The US dollar gained on most of the major currencies today as investors search for safety of funds. More

UK Home Prices Fall Another 1.8%

The Nationwide Building Society released a survey showing that home prices fell by 1.8 percent for the month brining the annual retracement to a record 17.6 percent. More

World Bank and EBRD to Provide Assistance to Eastern Europe

The World Bank – in conjunction with the European Bank for Reconstruction and Development (EBRD) as well as the European Investment Bank – is expected to provide up to 24.5 billion euros (or $31 billion USD) to help central and eastern European banks and business deal with the financial crisis. More

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