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Dollar breaks out to 11-month highs, eyes on Fed WARSAW: The dollar reached an 11-month high against the euro and a basket of major currencies on Wednesday, buoyed by optimism over the health of the US economy. The greenback broke through resistance around $1.3300 and last November's high of $1.3295 per euro in morning trade in Europe. It also climbed to a 4 1/2-month high against the yen. Dealers and analystssaid signals from the US economy and policy establishment - on Wednesday, minutes from the Federal Reserve's last meeting - would probably define whether the dollar pushed higher. It has gained some 7 cents, or just under 5 percent, against the euro since early May. The gains suggest the broader rally predicted at the start of this year by some of the biggest investment houses may finally be under way. "The dollar can retain its bid tone into the end of the week," said Stephen Gallo, a strategist with ...

Sterling rises, gilts fall after hawkish BoE minutes LONDON: Sterling rallied on Wednesday, recovering from four-month lows against the dollar, while gilt futures fell after Bank of England minutes showed two policymakers surprisingly voted for an interest rate hike in August. Martin Weale and Ian McCafferty both unexpectedly voted to start raising interest rates this month, becoming the first officials to do so in more than three years. The voting bolstered market expectations that the BoE could raise rates in five months time. ...
Czechs roll out new Bitcoin-style virtual currency PRAGUE: The Czech Republic launched its answer to Bitcoin on Tuesday when new virtual currency CzechCrownCoin started trading. "Early this afternoon we put a first test run of 100,000 coins on the market," CZC project head Ladislav Faith told AFP."The total number of coins has been set at 100 million." Virtual currencies have becoming increasingly popular in recent years since the most famous example, Bitcoin, was launched by a mysterious computer guru in 2009.Faith estimated ...
Sterling hits four-month low on soft UK inflation data, awaits BoE minutes LONDON: Sterling hit a four-month low against the dollar and a near two-month trough versus the euro on Tuesday after weaker-than-expected inflation data eased pressure on the Bank of England to raise interest rates.Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said. That is well below the Bank of England's 2 percent inflation target.A Reuters poll had forecast inflation would fall to 1.8 percent, from 1.9 percent in ...
Sterling falls to 4-month low after soft UK inflation data LONDON: Sterling fell to a four-month low against the dollar and slipped towards a two-month trough versus the euro on Tuesday, after data showed British inflation fell more than expected and eased pressure on the Bank of England to raise interest rates.Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said. Economists taking part in a Reuters poll had expected inflation to fall to 1.8 percent from 1.9 percent ...
Sterling, kiwi slide, jury out on dollar rally WARSAW: Sterling and the New Zealand dollar were the main losers on major currency markets on Tuesday, hit respectively by a bigger than expected fall in inflation and lower government forecasts for growth.The dollar, stuck for the past two weeks in a tight range, benefited from a sharp narrowing in the euro zone's current account surplus in June. The euro dipped, but did not drop past support at a nine-month low of $1.3333 struck earlier ...
Turkish lira near 1-week low as domestic, regional risks weigh ISTANBUL: The Turkish lira traded near its one-week low on Monday, weighed down by political uncertainty after last week's presidential election and tension between Russia and Ukraine.Moody's said in a statement on Friday the presidential election was unlikely to resolve Turkey's key economic and institutional credit challenges. Political uncertainty would persist until a parliamentary election due by June 2015.Turkish Economy Minister Zihat Zeybekci in a statement on Monday that Moody's comments showed the rating agency ...


Index Closing Chg%
Arrow DJIA 16,919.59 0.48
Arrow Nasdaq 4,527.52 0.43
Arrow S&P 1,981.60 0.50
Arrow FTSE 6,779.31 0.56
Arrow DAX 9,334.28 0.96
Arrow CAC-40 4,254.45 0.56
Arrow Nikkei 15,449.79 0.83
Arrow H.Seng 25,122.95 0.67
Arrow Sensex 26,420.67 0.11

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln