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Dollar awaits Yellen's testimony, Draghi may limit euro's gains LONDON: The dollar edged up against the yen on Monday, though stayed well within recent ranges, as investors awaited Federal Reserve Chair Janet Yellen's congressional testimony for cues on the outlook for US monetary policy.US Treasury yields have fallen and Fed Funds futures indicate investors are pushing back policy tightening expectations after Fed minutes indicated the central bank is not in a hurry to raise rates. So, a lot will depend on what Yellen says, especially on the back of an improvement in US data in the second quarter.In the euro zone, European Central Bank President Mario Draghi addresses a European Parliament committee in Strasbourg and the single currency's recent strength against the dollar could be mentioned. ECB policymakers have in the past said that the exchange rate's strength worsens the disinflationary situation in the euro zone.The euro was up 0.2 percent at $1.3635, lifted by talk of buying by ...


Asian currencies mostly firmer; rupiah falters SINGAPORE: Emerging Asian currencies mostly inched higher on Monday, stabilising after taking a fall late last week, as investor jitters over problems at a Portuguese bank eased.Many Asian currencies had declined late last week as investors booked profits due to fears about the potential fallout from financial troubles at the family-owned holding companies behind Portugal's largest-listed bank.Market jitters, however, have gradually eased in the wake of a statement by Banco Espirito Santo, saying that loan ...

Sterling steady, eyes on UK inflation data LONDON: Sterling edged up against the dollar on Monday as traders looked to two days of economic data for signs that Britain's recovery is on track.The pound suffered its first weekly fall versus the dollar in six weeks last week after a string of weaker-than-expected data called into question the idea that the Bank of England will raise interest rates before the end of the year.Sterling has gained more than 10 percent against a basket ...

Turkey's lira steady ahead of expected interest rate cut ISTANBUL: Turkey's lira held steady on Monday supported by buoyant global markets, and bond yields fell as investors geared up for an expected rate cut by the central bank on Thursday.European and Asian shares rose as euro zone banking jitters faded, but investors looked forward to corporate earnings and a raft of global economic events including testimony from the head of the U.S. Federal Reserve.The lira was steady at 2.1205 against the dollar by 0832 ...

Yen weakens in Asia as Bank of Japan starts meeting TOKYO: The yen weakened in Asian trade Monday as the Bank of Japan kicked off a two-day policy meeting, with investors also eyeing testimony from the head of the US Federal Reserve later this week.In Tokyo afternoon trading the greenback rose to 101.40 yen, up from 101.23 yen in New York on Friday, while the euro strengthened to 137.95 yen from 137.78 yen in US trading.The euro was nearly flat against the dollar at $1.3602 ...

Yuan falls on corporate dollar demand, seen capped at 6.2/dollar for now SHANGHAI: China's yuan fell against the dollar on Monday as companies tended to buy dollars in anticipation that the Chinese currency would remain relatively weak in the near term, traders said.Spot yuan stood at 6.2072 per dollar by midday, 0.06 percent weaker than Friday's close also after the People's Bank of China (PBOC) fixed its official midpoint at 6.1485 per dollar, down 0.03 percent from Friday's fix.The yuan opened at 6.2034 per dollar, which traders ...

Australian, NZ dollars seek fresh cues in event-filled week WELLINGTON/SYDNEY: The Australian and New Zealand dollars marked time on Monday, mirroring a generally aimless currency market that appeared to be waiting for fresh cues this week from China data and Federal Reserve Chair Janet Yellen's congressional testimony. The Aussie traded at $0.9399, having drifted in a slim $0.9370/9401 range so far this session. Since April, the Aussie has basically been flatlining near 94 US cents. Investors are nervous about pushing it much higher, but ...


 



 
Index Closing Chg%
Arrow DJIA 17,086.63 0.16
Arrow Nasdaq 4,473.70 0.40
Arrow S&P 1,987.01 0.18
Arrow FTSE 6,798.15 0.04
Arrow DAX 9,753.56 0.20
Arrow CAC-40 4,376.32 0.16
Arrow Nikkei 15,328.56 0.10
Arrow H.Seng 23,971.87 0.80
Arrow Sensex 26,147.33 0.47





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln