Forex News and Rumors – Afternoon Update

US Durable Goods Falls 5.2%

New orders for durable goods including products such as automobiles, machinery, and household appliances fell by 5.2 percent for the month of January. This follows hard on the heels of a 4.6 percent decline for the month of December. More

Dollar Loses Against Most Majors – Gains on Yen

The US dollar fell against most of the major currencies today but growing concern over the recession in Japan saw the yen slide to 98 yen to one US dollar. More

Mexican Peso Near Record Lows

The peso lost 0.8 percent of its value today falling to 14.9498 pesos to the dollar by mid-afternoon in New York. The peso has lost 32 percent in the past six months and is close to its record low of 14.9855 pesos to the dollar. More

UK Chancellor Says Government to Insure Bad Assets

Alistair Darling – Chancellor of the Exchequer – said today that the government will insure the risky assets held by several British banks including the Royal Bank of Scotland which announced earlier today that it will suffer losses of £24.14 billion ($34.4 USD billion) for the year. More

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