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Scots survey nerves drive sterling to 10-month low LONDON: Sterling hit a fresh 10-month low against the dollar and a three-month trough against the euro on Wednesday, with traders citing an online survey on the Scottish independence which gave the "Yes" camp a strong lead.Market talk in morning trade in Europe surrounded the prospect of another poll due to be released late on Wednesday by the Survation polling agency for the Daily Record. The agency said on Twitter that those results would be "very interesting". Adding to nerves was an unverified web poll conducted by an independent blogger that showed the pro-indepedence camp leading with 53.9 percent to 46.1 percent for those who intended to vote "No". Sterling slid to $1.6052 in response, having traded a full cent higher earlier in the day. It was last down 0.1 percent at $1.6088. The euro gained to its strongest since June at 80.635 pence.It last traded at 80.49 pence, up ...

Turkish lira drops to 5-month low on suggestion of early US rate hike ISTANBUL: The Turkish lira weakened above 2.2 against the dollar on Tuesday, after a study by Federal Reserve economists suggested investors were underestimating chances of an early U.S. interest rate hike.Turkish assets are especially responsive to changing expectations about global liquidity tightening because its large current account deficit is financed by foreign capital inflows.The lira weakened to 2.2032 against the dollar, its weakest since the end of May, settling at 2.1945 against the dollar by ...
Dollar hits 6-year high vs yen on Fed study, sterling sell-off abates LONDON: The dollar scaled a six-year high against the yen and hit a 14-month peak against a basket of currencies on Tuesday, tracking rising U.S. yields after a Federal Reserve study led investors to reassess the prospects for higher interest rates.Sterling recovered from a 10-month low after Bank of England Governor Mark Carney made comments suggesting the bank might start to raise interest rates in spring. But the boost to sterling was fleeting amid growing ...
Sterling struggles as worry over Scotland trumps strong UK data LONDON: Sterling held near a 10-month low against the dollar on Tuesday, while the cost of hedging against further weakness soared to three-year highs on worries about the potential impact of a Scottish vote for independence.Better-than-expected economic data, showing British industrial output rising by the most in six months, failed to boost the pound, a day after it suffered its steepest fall in 2-1/2 years.A TNS poll overnight showed a surge in support for those ...
Little respite for pound as BoE's Carney says rate hikes nearing LONDON: The British pound gave up brief gains on Tuesday, while gilt yields rose, after Bank of England Governor Mark Carney said Britain's first interest rate hike since the financial crisis was getting closer."With many of the conditions for the economy to normalise now met, the point at which interest rates also begin to normalise is getting closer," Carney said in a prepared speech to representatives of trade unions in Liverpool.Sterling hit a day's high ...
Dollar sweeps to 14-month high, kicks oil below $100 LONDON: A robust dollar swept to a 14-month high on Tuesday as investors tweaked bets on an early hike in US interest rates, burdening oil, gold and stocks in the energy majors.As the dollar broke to a six-year peak on the yen and a 14-month top against the euro, gold sagged to a three-month trough and Brent oil settled below the $100 a barrel mark.Giving the dollar bulls encouragement was research from San Francisco Fed ...
Turkish lira drops as bets on early US rate hike tweaked ISTANBUL: The Turkish lira weakened on Tuesday, responding to a study by Federal Reserve economists that suggested investors were underestimating chances of an early US interest rate hike. Turkey is especially sensitive to changes in global liquidity conditions because of its large current account deficit, which is financed with foreign capital inflows that have stayed strong during the long period of ultra-loose US monetary policy.Any concerns those flows might slow tend to hit Turkish assets. ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln