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Sterling on weaker run after data, dollar gains LONDON: Sterling headed for the bottom of its recent range against the dollar on Friday, hurt by a bullish week for the US currency and a couple of marginally weaker than expected numbers on the British economy.The dollar index, measuring its strength against a basket of currencies, rose to a five-week high in early trade, helped by growing speculation of the potential for easier monetary policy in both Japan and Europe. There is no such outlook on the pound, with the Bank of England's next move expected to be a rise in interest rates next year.But after a 10-percent gain since mid-2013, sterling looks increasingly stretched, particularly against the dollar. All three of the closely watched UK PMI survey of industry purchasing managers dipped below forecasts this week, although all are still indicative of an economy growing strongly. The pound has been stuck in a range between roughly $1.6480 and ...

Euro steady ahead of inflation data, ECB LONDON: The euro held firm on Monday ahead of inflation data that will set the tone for this week's meeting of the European Central Bank, which again faces the dilemma of whether to take more action to spur growth and weaken the currency. Comments from Bundesbank chief Jens Weidmann on Saturday cooled hopes, based on a press interview last week, that Germany's resistance to emergency steps to pump more money into the euro zone economy ...
Dollar reserve role secure but set to shrink: BIS BERLIN: The dollar's share of central bank reserves may fall by as much as 10-15 percentage points in coming years without threatening its role as the world's main reserve currency, a senior official from the Bank of International Settlements said on Saturday. Peter Zoellner, head of the banking department at the central banks' central bank, also told one of the year's biggest gatherings of foreign exchange dealers that the role of China's renminbi would continue ...
Euro drops to 3-week low on ECB easing talk, kiwi strong LONDON: The euro fell to three-week low against the dollar on Friday, with investors wary given strong rhetoric from European Central Bank officials about its recent strength and awaiting German inflation data that could undermine it further. Slightly soft Spanish inflation numbers led to a drop in the euro in early trade in London, with more sellers likely to line up if German inflation data, due at 1300 GMT, highlights subdued price pressures in Europe's ...
Sterling firms vs euro, but UK current account gap checks gains LONDON: Sterling rose for a fourth straight day on Friday against the euro, which is under pressure from talk that disinflationary pressures in the euro zone could prompt the European Central Bank to ease monetary policy. But the pound failed to get much traction against the dollar, held in check by a bigger-than-expected current account deficit for Britain in the fourth quarter. The euro fell to its lowest level since March 6 at 82.47 pence.It ...
Euro, peripheral bond yields fall on ECB easing debate LONDON: The euro fell on Thursday and peripheral European government bond yields hit their lowest levels in years as speculation grew that the European Central Bank may ease monetary policy soon. Emerging market stocks edged higher and Ukraine's sovereign government bonds rose after the International Monetary Fund said it had agreed a $14-18 billion bailout for the country. European shares fell, tracking Wall Street lower, but the focus in other European markets was on whether ...
Sterling grinds higher against weakened euro LONDON: Sterling built on this week's gains against the euro on Wednesday after comments from the Bank of England's Martin Weale that reinforced his view of a more robust economic recovery and gradually higher interest rates next year.Weale has been more explicit in leaning toward a rise in rates next year than many of his colleagues. He said signs that wage growth was picking up bode well for an economy in which rates could not ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
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Arrow Nikkei 14,516.27 0.68
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Foreign Debt $60.9bn
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WeeklyApril 14, 2014
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