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Turkey's lira at 4-month low as risk of Iraq air strikes weigh ISTANBUL: Turkey's lira slipped to its weakest since March 31 on Friday as investors fled to safe havens unnerved by the prospect of U.S. air strikes in neighbouring Iraq, two days ahead of Turkey's first direct presidential polls.U.S. President Obama authorised air strikes in Iraq late on Thursday to protect the besieged Yazidi minority and U.S. personnel in Iraq as Islamic State militants looked to be little over 30 minutes' drive from Arbil, the capital of Iraqi Kurdistan.Thousands of Iraqis, most of them ethnic minority Yazidis, followers of an ancient religion derived from Zoroastrianism and part of Iraq's Kurdish minority, have fled to the Turkish border.The lira reached 2.1880 against the dollar and stood at 2.1778 by 0719 GMT compared to 2.1638 late on Thursday.Turks go to the polls on Sunday to elect their president for the first time with Prime Minister Tayyip Erdogan widely expected to win.In contrast to ...

Yen, Swiss franc benefit from Iraq concerns LONDON: Investors sought refuge in the traditional security of the yen and Swiss franc on Friday after U.S. President Barack Obama approved air strikes in Iraq, adding to tensions in the Middle East and Ukraine which have unnerved global financial markets.Obama said in an address that he authorised targeted strikes to protect the besieged Yazidi minority and U.S. personnel in Iraq, after the Iraqi government requested help.The benchmark U.S. Treasury yield fell to a 14-month ...
Sterling hits 8-week low vs dollar on war worries LONDON: Sterling hit an eight-week low against the dollar and fell against the euro on Friday as investors moved towards traditionally lower-yielding safe haven currencies after the United States authorised air strikes against militants in Iraq.A bigger-than-expected British trade deficit also weighed modestly on the currency, which is heading for its fifth successive week of losses against the dollar - the worst run in over two years.But it was clear that the main driver across ...
Sterling steadies ahead of rate decision LONDON: Sterling edged down on Thursday ahead of a Bank of England meeting which may prove a watershed on the road to higher interest rates despite growing doubts over the pace of Britain's economic recovery.The BoE's Monetary Policy Committee (MPC) finishes its latest two-day meeting today, but markets will have to wait for another two weeks to find out whether any of the nine members has voted for an interest rate rise.Some analysts believe a ...
Yen slips on pension fund stock shift; eyes on ECB LONDON: The yen sagged against the dollar on Thursday on news that Japan's public pension fund plans to increase its allocation to the domestic stock market, while the euro was flat ahead of a monthly decision on interest rates.The dollar rose 0.2 percent to 102.33 yen, pulling away from a 1-1/2 week low near 101.76 yen set on Wednesday. After a bullish month of trading which has raised expectations of a longer-lasting rally, the greenback ...
Euro hurt by German industrial data, Ukraine worries LONDON: The euro recovered a touch after sliding to a nine-month low against the dollar on Wednesday, hit by a sharp drop in German industrial orders and uncertainty about the intentions of Russian troops operating near the Ukrainian border.The dollar hovered just under an 11-month high against a basket of major currencies that it had hit earlier in the day, boosted by upbeat U.S. data as well as a move by investors away from currencies ...
Sterling knocked back again by subdued output data LONDON: Sterling fell to intraday lows against both the dollar and the euro on Wednesday after data showed UK industrial and manufacturing output grew less than expected in June.The pound, one of the main losers against a resurgent dollar in the past month, extended losses to be a third of a percent down on the day at respectively $1.6841 and 79.39 pence per euro.It had surged more than 10 percent against a basket of currencies, ...


Index Closing Chg%
Arrow DJIA 17,001.22 0.22
Arrow Nasdaq 4,538.55 0.14
Arrow S&P 1,988.40 0.20
Arrow FTSE 6,775.25 0.04
Arrow DAX 9,339.17 0.66
Arrow CAC-40 4,252.80 0.93
Arrow Nikkei 15,539.19 0.30
Arrow H.Seng 25,112.23 0.47
Arrow Sensex 26,419.55 0.23

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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WeeklyAugust 15, 2014
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