Forex News and Rumors – Afternoon Update

Senate Republicans Scuttle US Auto Bailout Saying Not “Tough” Enough

Republicans in the US Senate are blocking the Auto makers rescue plan as cobbled together by Congress yesterday, saying that the bill is not “tough” enough and fails to address the need for the manufacturers to restructure operations. More

Canadian Dollar Gains On US Counterpart

The Canadian dollar – known as the Loonie – gained as much as 3.4 percent on th US dollar today marking its biggest single-day gain since October 29th. More

Russia’s Central Bank Devalues Ruble

Bank Rossii – Russia’s central bank – increased the trading band between the dollar and the euro today which extends the amount the ruble can decline against the target exchange rate from 6.7 percent to 7.7 percent. One month ago, the deviation was only 3.7 percent. More

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