Forex News and Rumors – Afternoon Update

Dollar Rises on Speculation Fed Will Increase Lending Rates

The dollar matched a one-week high against the euro today, climbing to $1.3877 from Friday’s close of $1.3968 on growing speculation that the Federal Reserve will lift its benchmark lending rate. More

On-Going Government Strife Bogs Down Sterling

The British pound fell today as calls grow for Prime Minister Gordon Brown to step aside and call an election. The government has been embroiled in a high-profile expenses scandal that has forced several key government officials to tender their resignation. More

Oil Falls as Investors Take Profits

Oil prices continued to retrace on Monday after briefly touching $70 a barrel on Friday. The stall in the three-month price rally is being attributed to dealers locking in profits, but overall, prices are expected to remain strong. More

Final Ruling on Chrysler Sale Expected Today

Three Indiana state funds filed a notice on Saturday to delay the sale of Chrysler’s assets to Fiat in a bid to receive greater compensation in return for the money owed to them as part of Chrysler’s $6.9 billion in secured debt. The stay expires today at 4:00 pm New York time and represents the last hurdle blocking the deal. More

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