Pound Continues to Slide Against the Dollar
The pound dropped to $1.6195 today with some insiders predicting it could fall to $1.40 within six months after UK consumer confidence reached record lows in October.
Ruble Troubles Deepen
As investors continue to abandon the Russian economy taking over $72 billion out of the country in October alone, the ruble fell to 27.0955 per U.S. dollar bringing the monthly loss to 5.6 percent.
U.S. Jobless Claims Remain High
New unemployment claims remained unchanged last week at a seasonally-adjusted 479,000.
Wall Street Ends Week on High Note
The Dow increased by nearly 200 points on Friday to cap a week of gains despite more evidence of a deepening economic downturn.
