Forex News and Rumors – Afternoon Update

German Investor Confidence Climbs to 3-Year High

Further evidence that the recession could be easing in Germany comes in the form of the latest investor confidence index. The ZEW Center for European Economic Research reported today that its index of investor confidence rose to 44.8 from 31.1 in May – the highest reading since may 2006. More

Pound Gains on Dollar

A weak dollar and better-than-expected inflation news helped lift sterling to a one-week high against the dollar. More

Canadian Dollar Declines

Fears that the Canadian dollar’s recent gains were “a bit of an overshoot”, have pushed the Canadian buck back to C$1.1335 per US dollar from C$1.334 per US dollar at yesterday’s close. More

Obama to Create New Consumer Agency

A member of President Barack Obama’s administration said today that the US Treasury will propose the creation of a new regulatory agency to help protect consumers. If approved, the new agency will regulate the banking agency and will take aim initially at credit card companies and the practises of other lenders. More

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