Forex News and Rumors – Afternoon Update

Euro Reaches Current Year High Against US Dollar

The euro surged to its highest value in 2009 against the dollar today, at one point hitting $1.4106 compared to yesterday’s close $1.3943. More

Canadian Dollar Extends Gains

The Canadian dollar – nick-named the “loonie” – gained more than a cent and a half on the US dollar today to 91.24 cents US by mid-day in New York. More

Devaluation of Dollar Boosts Oil and Commodities

As the buck struggles, investors increasingly turn to oil and commodities to hedge against further losses pushing oil futures to $66.47 a barrel in New York. More

“Agreement in Principle” for Sale of GM’s European Division

According to sources involved in the ongoing negotiations, an “agreement in principle” has been reached that would see Canadian auto parts manufacturing giant Magna buy GM’s European division including Opel and Vauxhall. More

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