Forex News and Rumors – Afternoon Update

Canadian Dollar Surges to Seven-Month High

The Canadian dollar – also known as the “loonie” – hit a seven-month high against the US dollar today reaching C$1.1349 at one point during the day from C$1.1418 yesterday. More

Euro Hits Four-Month High on the Dollar

The euro continued to make gains on the floundering greenback today jumping to $1.3811 by late-day trading in London compared to yesterday’s close of 1.3781. More

Tensions Over Natural Gas on the Rise Again Between Russia and Ukraine

An official with Russian Prime Minister Vladimir Putin said that another gas crisis could be brewing between Russia and the Ukraine as Ukraine struggles to make payments to Russia. Last winter Russia turned off the gas pipeline over non-payment which not only cut gas supplies to the Ukraine but also several Eastern European countries that receive natural gas via pipelines running through the Ukraine. More

Obama to Sign New Credit Card Bill

President Barack Obama is expected to sign into law a new bill that – once it takes effect in nine months – will require credit card issuers to provide at least 45 days notice before raising interest rates and also prohibits companies from raising rates on existing balances unless a card holder fell 60 days behind on minimum payments. More

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