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Sterling recovers from UK growth disappointment, hits 7-week high vs dollar LONDON: Sterling hit seven-week highs against the U.S. dollar on Tuesday, recovering from earlier losses after data showed the UK economy grew slower than expected in the first quarter.Quarterly gross domestic product growth slowed to 0.3 percent - half that of the last three months of last year and below forecasts of 0.5 percent. On an annual basis, the British economy was growing at a healthy 2.4 percent pace.Sterling rose 0.6 percent to trade at $1.5338, rebounding from a low of $1.5174 struck immediately after the growth data was released at 0830 GMT. Those losses were temporary as investors cut long dollar positions ahead of a Federal Reserve meeting that could offer clues as to whether bets on rate hikes in the coming months are justified.Recent U.S. data has been soft, prompting investors to cut favourable bets on the dollar."It seems there are a lot of U.S. rate plays going ...

Currencies retreat, Polish banks post strong results BUDAPEST/WARSAW: The Polish zloty and the Hungarian forint retreated on Tuesday on concerns that the US Federal Reserve might signal rate hikes after a two-day meeting due to start later in the day.A rise in US rates would make Central European assets relatively less attractive.The zloty gave up part of Monday's gains against the euro and traded at 4.0 at 1312 GMT, weaker by 0.3 percent, while the forint shed 0.5 percent to 301.5.The forint ...
Sterling recovers from UK growth disappointment, hits 7-wk high vs dollar LONDON: Sterling hit seven-week highs against the US dollar on Tuesday, recovering from earlier losses after data showed the UK economy grew slower than expected in the first quarter. Quarterly gross domestic product growth slowed to 0.3 percent - half that of the last three months of last year and below forecasts of 0.5 percent. On an annual basis, the British economy was growing at a healthy 2.4 percent pace. Sterling rose 0.6 percent to ...
Zloty, forint rally on glimmer of hope on Greece deal BUDAPEST: Poland's zloty and the Hungarian forint rallied against the euro late on Monday as risk appetite rose on tentative hopes that Greece could clinch a deal with its creditors.Markets were buoyed after Greece announced a reshuffle of its team handling negotiations, seen as a last-ditch effort to unlock aid from international lenders.At 1440 GMT the zloty and the forint were about 1 percent stronger after breaking through respective key levels at 4 and 300 ...
Turkish lira hits record low on political jitters ISTANBUL: The Turkish lira slid to its second straight record low on Friday, as investors pummelled the currency over concerns about political stability and central bank independence ahead of June parliamentary elections. The lira has been hammered this year - underperforming nearly every other major emerging market currency - with analysts expecting little respite until at least after the June 7 polls. Faced with flagging economic growth, President Tayyip Erdogan has repeatedly called for lower ...
Goldman expects sterling to stay resilient to UK election risks LONDON: Sterling has remained surprisingly resilient to the risks from uncertainty from a closely fought British general election, Goldman Sachs said in a note, adding that the pound will ultimately be driven by the solid growth of the economy."While sterling may have room to price further election risk, we look to past election cycles to demonstrate that political uncertainty, of itself, has not been decisive for the currency, whereas the macro backdrop is key," Goldman ...
Sterling slips after UK retail sales disappoint LONDON: Sterling backed away from a five-week high against the dollar on Thursday after data showed British retail sales fell in March, confounding expectations of a rise and wrong-footing some traders who had expected a robust number.Data showed retail sales fell 0.5 percent in March compared with February and were up 4.2 percent compared with March last year. Economists in the Reuters poll had forecast increases of 0.4 and 5.4 percent respectively.Sterling fell to a ...

 



 
Index Closing Chg%
Arrow DJIA 18,010.68 0.64
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Arrow S&P 2,107.39 0.63
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Arrow DAX 11,413.82 2.26
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln