Forex News and Rumors – Afternoon Update

US Household Net Worth Plunges

The Federal Reserve said today that household net worth has fallen for the past six consecutive quarters including a record 9 percent in the fourth quarter of last year. More

Bank of America Claims Return to Profitability

Bank of America – the third largest bank in the US – claims that it realized a profit in the first two months of the year and that it can survive the current recession with no further aid from the taxpayer. More

Swiss Franc Falls as Government Announces Intervention

The Swiss franc had its worst day ever against the euro on news that the Swiss National Bank will deliberately weaken the currency. More

Canadian Dollar Gets Lift From Crude Oil Prices

Crude oil for April delivery gained over three dollars today boosting the Canadian dollar to 1.2826 per US dollar compared to 1.2852 at yesterday’s close. More

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