Fundamental Headlines • Yang to Step Down as Yahoo CEO – Wall Street Journal • Ford Tallies Potential Losses – Wall Street Journal • Citi cuts 52,000 more jobs, Pandit plans to shrink cost base by 20% – Financial Times • BlackRock Sets First Job Cuts as Contraction of Fund Industry Accelerates – Bloomberg • Hijacked Oil Tanker Nears Somalia `Pirate Stronghold' – Bloomberg • GBPUSD – The annual rate of inflation in U.K. fell at its fastest pace since recordkeeping began in 1997 as the consumer price index slipped to 4.5% from a record high of 5.2% in September. In addition, the core measure of inflation declined 0.3% to 1.9% from 2.2%, which suggests that the Bank of England may step up their efforts in order to avoid deflation. Market participants have already raised bets that the MPC will continue to aggressively lower the benchmark interest rate in the months ahead to meet the 2% target for inflation, which could drag on the British pound going forward. Meanwhile, the retail price index slipped to 4.2% from 5.0% in the previous month to record its biggest decline since 1993. Discuss the topic and your trade ideas in the GBP/USD Forum. • USDCHF – Retail spending in Switzerland surged 6.4% from the previous month despite expectations for a 0.8% gain. The breakdown of the report showed that discretionary spending on personal goods rose 6.0%, while electronic sales increased 19.6%, and was followed by a 7.5% gain in household goods. However, after adjusted for the number of shopping days, sales were up just 2.4% after rising 4.0% in August, which suggests that economic activity is starting to turnover in Switzerland. Despite the surprising improvement, growth prospects may deteriorate further in the months ahead as the Swiss National Bank forecasts economic growth to falter going into the next year. For more news and resources, visit the new Swiss franc Currency Room.