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Euro plumbs 22-month low as rate outlook powers dollar LONDON: The euro fell on Thursday to an almost two-year low against a dollar that is on track for its longest winning streak since the early 1970s, as investors anticipate that European and U.S. monetary policy will head in opposite directions.The gap in bond yields between 10-year U.S. Treasuries and German Bunds, the euro zone benchmark, traded near 15-year highs, luring investors to buy dollars, on expectations of higher U.S. interest rates.As the U.S. economy picks up, the Federal Reserve is likely to end its bond-buying next month - introduced under a quantitative easing (QE) policy to tackle the financial crisis - and will probably begin raising the cost of borrowing next year.By contrast, the European Central Bank is likely to ease its ultra-loose monetary policy yet further, and may resort to buying government debt to revive a stuttering euro zone economy and avert a lapse into deflation. So far, ...

Sterling steady vs dollar, hovers near 2-year high against euro LONDON: Sterling held steady against the dollar and hovered near a two-year high against the euro on Wednesday, with investors focusing on the UK economy and rate expectations again after staying away in recent weeks on political uncertainty.Bank of England Governor Mark Carney is set to speak in Wales on Thursday and he could reiterate that interest rates will be raised in the spring of 2015. With the Scottish referendum out of the way, traders ...
Yen up on PM comments; record-breaking dollar run stalls LONDON: The yen rose on Wednesday after Japanese Prime Minister Shinzo Abe voiced concern about the economic impact of its fall to a six-year low, adding to the sense of a halt this week in the dollar's record-breaking run since July.The U.S. currency slipped 0.3 percent on the day to 108.60 yen after the Jiji news service quoted Abe as saying he would carefully watch the impact of the yen's recent weakness on Japanese regional ...
Prospect of German recovery offers relief to euro LONDON: The euro pulled away from a 14-month trough against the dollar on Tuesday, earning some relief from a business survey showing Germany's economy probably expanded in the third quarter.The common currency rose to $1.2896, recovering from Monday's 14-month low of $1.2816 and prompting some traders to suspect it might correct higher as key support near $1.2800 loomed. Traders said a move above Sept. 18 highs of around $1.2830 was needed for sustained gains."The euro ...
Turkish lira near six-month low as interest rates, Syria strikes eyed ISTANBUL: The Turkish lira hovered near a six-month low as investors awaited an interest rate decision on Thursday and watched for any signs of spillover from US and Arab air strikes on Islamic State militants in neighbouring Syria. The United States and Gulf Arab allies carried out at least 50 air strikes on Islamic State targets in the Syrian provinces of Raqqa and Deir al-Zor on Tuesday, a group monitoring the war in Syria said. ...
Rough start for sterling as tax talk weighs LONDON: Sterling traded roughly steady against the dollar after a volatile opening on Monday, with concerns about a tax deal that prompted heavy sales of some UK stocks weighing on a currency recovering from two weeks of political turbulence. The pound has struggled to bounce since Scotland relieved investors by voting to stick with its union with England in a referendum last week that had been seen as too close to call. Dealers and analysts ...
Sterling firms as focus turns to UK fundamentals, rate outlook LONDON: Sterling rose against the dollar on Monday and inched back towards recent two-year highs against the euro as investors refocused on Britain's economic fundamentals and interest rate expectations after Scotland's independence referendum.The euro traded 0.3 percent lower against sterling at 78.48 pence, not far off a two-year low of 78.10 struck on Friday amid relief over the Scots' decision to stay inside the United Kingdom. The pound rose 0.3 percent against the dollar to ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln