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Sterling pinned near five-week low vs dollar, rate rise seen pushed back LONDON: Sterling was little changed against the dollar on Monday, pinned near its lowest point in over five weeks, as expectations of monetary tightening from the Bank of England have been pushed further into the future. The pound, whose bullish eight-month run was already running out of steam, shed more than 1 percent against the greenback last week, hit by Janet Yellen's hint that US interest rates could rise early next year. By 0906 GMT the pound was flat against the pound at $1.6487. The euro was flat at 83.56 pence. Expectations that UK interest rates will rise in the near future have receded as the Bank of England has broadened the parameters which feed into interest rate decisions. "They've watered down forward guidance and now it's much more nebulous as to when rates might be raised," said Neil Mellor, strategist at BNY Mellon. "It's now in the hands of ...

Euro's gains fizzle out on German PMI data, dollar steady LONDON: The euro struggled to extend gains on Monday, hurt by evidence that growth in the euro zone's largest economy, Germany, was slowing, though investors were also wary of buying the dollar as they awaited more evidence of a US recovery.The euro earlier jumped to a European session high after surveys showed French business activity grew in March at the fastest pace in more than 2-1/2 years, beating forecasts for a further contraction in the ...
Dollar index hovers near recent highs, awaits clarity from Fed LONDON: The dollar hovered near a three-week peak against a basket of major currencies on Friday, but struggled to extend gains as investors awaited more clarity on the Federal Reserve's policy path. Fed officials including Richard Fisher, James Bullard and Narayana Kocherlakota are due to speak later on Friday, after Fed Chair Janet Yellen surprised markets mid-week by suggesting the possibility of raising interest rates early next year. US yields have moved higher as markets ...
Sterling pauses after rough week vs dollar LONDON: Sterling traded marginally lower on Friday, still suffering from the shock to the system of Wednesday's US Federal Reserve meeting, which has engineered a change in some investors' attitude to the dollar. The pound, already struggling to extend a bullish eight-month run, has fallen more than 1 percent against the dollar this week, most of it following Fed chair Janet Yellen's hint that US interest rates could rise early next year.It is broadly flat ...
Rouble hits two-week high as anxiety about Ukraine tension less intense MOSCOW: The Russian rouble strengthened for a second day on Wednesday to reach a two-week high after investors started closing long positions in the dollar taken during the recent escalation of the crisis in Crimea. At 1525 GMT, the rouble traded 0.7 percent stronger against the dollar at 35.97 and 0.9 percent firmer at 50.0 against the euro. This left it 0.8 percent firmer against the dollar-euro basket at 42.29. The rouble, which hit record ...
Dollar firms before Fed verdict, all eyes on Yellen debut LONDON: The dollar rose against the yen and euro on Wednesday, drawing comfort from expectations the Federal Reserve will further unwind monetary stimulus, looking beyond the impact on the economy of a harsh winter. Some trepidation before Janet Yellen's inaugural policy review as Federal Reserve chief will keep gains muted, traders said. The Fed is widely expected to reduce the size of its monthly bond purchase programme by a further $10 billion at the end ...
Sterling hooked on jobs numbers, budget in background LONDON: Sterling inched higher on Wednesday on a busy day for the UK economy and government policy, which holds the risk of a break lower for a currency that increasingly looks to have peaked for now. The pound, the biggest gainer among developed world currencies in the second half of last year, hit a three-month low against the euro on Tuesday, hit by talk of outflows to pay for a European acquisition by British telecoms ...

 



 
Index Closing Chg%
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln