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Swiss franc drops on SNB negative rate fears LONDON: The Swiss franc fell by the most in six months against the euro on Wednesday after comments from the Swiss National Bank which made no change to its position on policy but played on some market speculation of a move to negative interest rates.The franc fell to a three-week low of 1.2119 francs per euro after the Wall Street Journal cited Swiss National Bank official Thomas Moser as saying the bank had always said negative rates were a possibility and would be used if need be.The SNB afterwards underlined that this was consistent with its previous line on policy but Moser's comments added fuel to speculation that it might be ready to make good on renewed threats in recent weeks to take action if needed."The Swiss National Bank has always emphasized that it would take further measures to enforce the cap if necessary, and SNB chairman Thomas Jordan has ...

Scotland uncertainty keeps British pound volatile LONDON: The pound recovered from a 10-month low against the dollar and a three-month trough against the euro on Wednesday as the market paused for breath after a week-long sell off on fears Scotland will vote for independence.Sterling got a slight boost from Bank of England chief Mark Carney, who reiterated in comments to lawmakers that the central bank was inching towards a tightening of monetary policy.But any uptick was likely to be temporary given ...
Turkish lira hits weakest in 5 months after GDP growth less than expected ISTANBUL: The Turkish lira hit its weakest level in more than five months on Wednesday, trading at 2.21 against the dollar, after economic growth came in slower than expected in the second quarter and the U.S. currency rose against major currencies.Gross domestic product (GDP) in the second quarter expanded 2.1 percent year-on-year, according to official data, less than a Reuters poll forecast of 2.65 percent growth.The main share index fell 0.77 percent to 79,459.26, compared ...
Dollar climbs to 6-year high vs yen, Aussie slumps LONDON: The dollar rose to a six-year high against the yen on Wednesday while the Australian dollar nursed a second session of heavy losses as U.S. Treasury yields ground higher.The U.S. currency's steady march higher since the start of July is broadly intact, driven by a tightening of market expectations on Federal Reserve interest rates.A study by Fed researchers earlier this week convinced many investors of the need to bring forward expectations for the timing ...
Sterling hits new lows, traders cite new web poll on Scotland LONDON: Sterling hit a fresh 10-month low against the dollar and a three-month trough against the euro on Wednesday as traders cited an online poll on the Scottish independence which gave the "Yes" camp a 53.9 percent lead.The pound hit $1.6052, its lowest since November 2013 , before recovering a little to $1.6070, down 0.2 percent on the day. Earlier, it had been trading as high as $1.6153.The euro strengthened against sterling to a three-month ...
Currencies slip as US tightening, Ukraine risks weigh BUDAPEST: Central European currencies eased early on Wednesday, with concerns over the start of US monetary tightening, the fragile situation in Ukraine and prospects of further rate cuts in the region taking their toll on local markets.Investors fear fallout from the conflict in Ukraine could prompt some central banks in central Europe to loosen policy further to offset risks to growth, despite the prospect of rising rates in the United States.Concerns the Federal Reserve might ...
Dollar batters emerging assets; rand, lira at forefront LONDON: Emerging currencies fell more than 1 percent on Wednesday and currencies such as the lira and rand extended losses to trade at multi-month lows on growing expectations of a broad-based rally in the US dollar.The dollar is near 14-month highs versus a basket of major currencies and could breach levels not seen since 2010 after a paper from the San Francisco Fed indicated markets are well behind the curve in pricing the US rate ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln