Forex News and Rumors - Afternoon Update

The dollar received a lift today when the latest US unemployment figures showed that the economy is losing jobs at a slower rate than previously thought. By 1:00 PM in New York, the dollar increased to $1.4179 per euro from $1.4345 per euro at yesterday's close.
NBER Member Says US Recession Could Have Ended in July

Jeffrey Frankel - a professor at Harvard University and a member of the National Bureau of Economic Research (NBER) - said that the recession may have ended in July.

“I haven’t felt that there have been any previous months for saying this will turn out to be the bottom, but this one is definitely a candidate,” Jeffrey Frankel, who sits on the National Bureau of Economic Research’s business-cycle dating committee, said today in a telephone interview. “It’s perfectly possible that this will turn out to be it.”