Forex News and Rumors – Afternoon Update

Yen Falls as Investors Bet on Recovery

The yen fell to 135 yen to the euro today as optimism grows that economies will begin to recover. As risk appetite increases, investors begin to sell the yen – seen as a safety hedge – in favor of other currencies such as the euro and the US dollar. More

Loonie Gains on Oil, Equity Increases

The Canadian dollar – nick-named the “loonie” – closed out the week with a gain of 0.6 percent on the US dollar, climbing to 81.10 US cents. More

UK House Prices Decline 1.9%

House prices in the UK continue to spiral downwards losing another 1.9 percent in March. The average price of a home in the UK is now £157,226 which is about £30,000 less than the same time last year. More

OECD Lists Global Tax Havens

Following up on one of the discussion points from this week’s G20 Summit vowing to clamp down on tax havens, the Organisation for Economic Cooperation and Development (OECD) released a list today of countries that have failed to meet the agreed upon tax reporting standards. More

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