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Forex News and Rumors – Afternoon Update

Stock Market Losses Increase Demand for Dollar

Stock markets were down today spurring investors to return to the US dollar as a safe haven for funds. By noon in New York, the dollar had gained 0.8 percent on the euro to $1.3384 from its close of $1.3486 on Friday. More [1]

UK Debt Rises Faster Than Expected

The Institute for Fiscal Studies (IFS) said today the the UK faces a rising debt burden that could see a deficit of £150bn a year ($222.6bn) for the next three years. More [2]

Fed Arranges Currency Swap Deal

The Federal Reserve [3] completed a currency swap deal with the European Central Bank as well as the central banks for Britain, Japan, and Switzerland today that would allow the Fed to lend money to US financial institutions in any of the four currencies. The total value of the currency swap deal is nearly 290 billion dollars. More [4]

Canadian Unemployment Predicted to Reach 9.5% Next Year

The Conference Board of Canada – an independent, non-government think tank – predicted today that Canada’s unemployment level would peak at 9.5 percent by the middle of 2010. More [5]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Scott Boyd

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