Forex News and Rumors – Afternoon Update

Yen Falls in Increase in Risk Appetite

The yen fell to a two-week low against the euro and the Canadian dollar as recent gains in the stock markets encouraged investors to seek higher-yielding currencies. More

Flu Fears Weigh Down Peso

The peso lost again today after Finance Minister Agustin Carstens said in a television interview that the recent influenza outbreak will cause economic output to slump for the next two to three months. More

US Credit Card Law Ready for Vote

Legislation championed by the Obama administration aimed at protecting consumers from questionable credit card practises is headed for a vote in the US House of Representatives. More

Time Runs Out on Chrysler’s Attempts to Restructure

It’s now up to the courts – Chrysler was unable to reach an agreement with its debtholders and has been forced to enter into Chapter 11 bankruptcy. President Barack Obama said in an announcement that the filing would give Chrysler a “new lease on life” and that he believed Chrysler will “emerge from this process stronger and more competitive.” More

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