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Small dip for sterling after UK wages undershoot LONDON: Sterling dipped on Wednesday after British wage data fell short of forecasts, failing to provide more evidence of a pick up in demand-led pressure on prices following a jump in inflation last month.The debate over the strength of Britain's economic recovery, and the chances of the Bank of England raising interest rates before the end of the year, has moved on from employment to centre around inflation and wage growth.The pound hit an almost six-year high of $1.7192 on Tuesday after June numbers showed a sharp rise in inflation to 1.9 percent, within touching distance of the Bank of England's 2 percent target.But data on Wednesday showed total pay including bonuses rose an annual 0.3 percent in March-May, the weakest growth since the depths of the financial crisis five years ago and below a consensus forecast of 0.5 percent.The pound dipped after the numbers to a session low of ...

Yen slips after BOJ caution on growth, dollar awaits Yellen LONDON: The yen eased on Tuesday after the Bank of Japan sounded some cautious notes on growth but stopped well short of hinting at a new bout of money-printing.In Europe, sterling traded near its lowest in two weeks against the dollar before inflation data, while the euro resisted a warning from European Central Bank chief Mario Draghi that it was too strong.However, moves were minimal across the board, as investors waited for congressional testimony from ...
Euro drops after German ZEW survey, sterling outperforms LONDON: The euro fell on Tuesday, after Germany's ZEW survey suggested a shaky start for Europe's largest economy in the third quarter while lingering problems about Portugal's largest listed bank kept investors wary of the single currency.Portuguese 10-year bond yields rose as shares in Banco Espirito Santo fell more than 10 percent, with investors worried about the bank's exposure to the troubled companies of its founding family.So far, there are few signs that these troubles ...
Sterling surges, gilts fall after surprise UK inflation jump LONDON: Sterling rose and British government bonds fell on Tuesday after data showed British inflation jumped unexpectedly in June to its fastest rate since January, increasing market bets that interest rates will rise this year.Consumer prices rose 1.9 percent on the year in June, the Office for National Statistics said. Economists taking part in a Reuters poll had expected inflation to accelerate to 1.6 percent from 1.5 percent in May, a 4-1/2 year low.Sterling surged ...
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, ...
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 ...


Index Closing Chg%
Arrow DJIA 16,563.30 1.88
Arrow Nasdaq 4,369.77 2.09
Arrow S&P 1,930.67 2.00
Arrow FTSE 6,730.11 0.64
Arrow DAX 9,407.48 1.94
Arrow CAC-40 4,246.14 1.53
Arrow Nikkei 15,620.77 0.16
Arrow H.Seng 24,756.85 0.10
Arrow Sensex 25,894.97 0.74

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Foreign Debt $60.9bn
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WeeklyJuly 10, 2014
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