Forex News and Rumors – Afternoon Update

Swiss Franc Slips on Today’s Rate Cut

The Swiss franc fell to its lowest level since August 2007 against the dollar today as the Swiss National Bank unexpectedly cut interest rates today by 100 basis points. More

Canadian Dollar Falls to 3-Week Low

The Canadian dollar – nicknamed the “loonie” – fell 3 percent to $1.2936 CAD per US dollar in trading today. Falling oil and commodity prices have conspired to pull the loonie down 17 percent this quarter. More

Taiwan Expected to Enter Into Recession

Taiwan’s government said today that the economy will enter into a recession in the third quarter as demand for Taiwan’s exports continues to fall. More

Turkey Expected to Sign Loan Agreement with IMF

Turkey is expected to sign a loan agreement with the International Monetary Fund (IMF) to help the lira recover from its weakest level in the past year. More

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