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Sterling holds steady after worst run versus dollar in 6 years LONDON: Sterling bulls licked their wounds on Friday and fought back from a mauling that has seen the currency suffer its longest losing streak against the dollar in six years. With investors having pushed expectations of a UK rate hike back into next year, the British pound is well on track for its seventh weekly loss against the greenback, a run not seen since the financial crisis of August and September 2008. But traders bought back some of those cheaper pounds on Friday, squaring positions ahead of potentially the most important market-moving event of the year: a keynote speech from US Federal Reserve Chair Janet Yellen at the Fed's annual gathering of central bankers in Jackson Hole, Wyoming. "The pullback in the dollar overnight ahead of today's speech from Yellen is understandable following the strong gains recorded earlier this week," said Lee Hardman, currency analyst at Bank of Tokyo-Mitsubishi UFJ ...

Dollar flatlines ahead of Yellen, Draghi at Jackson Hole LONDON: The dollar was steady on Friday after its strongest weekly run since March and world stocks were near all-time highs as markets waited for steers from the Federal Reserve and ECB on diverging policy plans.European shares opened barely changed and heading for their biggest weekly gain since February, while Asian markets hitched a ride on another record close for Wall Street to end the week near a six-and-half-year high.Emerging market stocks were also stronger ...
Yen and Swiss franc rise vs euro on Ukraine tension, dollar steady LONDON: The yen and the Swiss francs rose against the euro on Friday, helped by safe-haven inflows after a Russian aid convoy crossed into Ukraine without permission from Kiev, rattling investors. The dollar, meanwhile, hovered below its 2014 peak against a basket of major currencies on Friday, as investors stayed cautious ahead of a speech by US Federal Reserve Chair Janet Yellen. While Yellen's speech will take centre stage later in the session and potentially ...
Turkish lira at five-month low after Fed minutes, before PM choice ISTANBUL: The Turkish lira reached five-month lows after minutes of the Federal Reserve's last meeting led markets to price in an earlier increase in U.S. interest rates, making emerging-market assets less attractive.The Fed hinted that a surprisingly strong recovery in the U.S. jobs market may lead it to raise interest rates earlier than it had been expecting. Turkey is susceptible to changes in global liquidity, because it relies on foreign capital to finance its current ...
German data brings relief to euro, dollar rise stalls LONDON: The euro recovered from a 11-month low against the dollar, helped by better-than-expected German private sector growth data, although gains were likely to be temporary given expectations of more monetary stimulus.The U.S. dollar, buoyed by rising Treasury yields and widening interest rate differentials in its favour, traded below 11-month peaks against a basket of major currencies, having scaled those highs after minutes of the Federal Reserve's July meeting, released on Wednesday, sounded slightly hawkish.The ...
Sterling hurt by dollar surge, soft retail sales LONDON: Sterling traded near its lowest in more than four months against the dollar on Thursday after taking a hammering along with a raft of other currencies against the greenback overnight on the back of U.S. Federal Reserve meeting minutes.The pound, down more than six cents in the past month, had gained a foothold on Wednesday after minutes from the Bank of England's own last policy meeting showed the first dissenting votes on its policy ...
German data brings some relief to euro, Norwegian crown rallies LONDON: The euro recovered from a 11-month low against the dollar on Thursday after better-than-expected German private sector growth data, although gains were limited given the numbers did little to alter expectations of more monetary stimulus.Amongst the biggest movers in the European session was the Norwegian crown which hit a two-month high against the euro after forecast-busting growth data. Norway grew 1.2 in the second quarter, double of expectations, and piling pressure on the central ...


Index Closing Chg%
Arrow DJIA 17,001.22 0.22
Arrow Nasdaq 4,538.55 0.14
Arrow S&P 1,988.40 0.20
Arrow FTSE 6,775.25 0.04
Arrow DAX 9,339.17 0.66
Arrow CAC-40 4,252.80 0.93
Arrow Nikkei 15,539.19 0.30
Arrow H.Seng 25,112.23 0.47
Arrow Sensex 26,419.55 0.23

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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