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Sterling cedes small ground to euro, UK data awaited for fresh bets LONDON: Sterling slipped slightly against the euro on Monday, after comments by European Central Bank policymaker Ewald Nowotny that there was no need to act immediately to counter euro zone disinflation.ECB chief Mario Draghi said last week radical policy action might be needed if inflation kept undershooting in the near term.The euro was up 0.1 percent at 82.75 pence, recovering from Friday's low of 82.50 pence, with traders citing offers to sell the euro at 83 pence which could check gains. Against the dollar, sterling was flat at $1.6580 with investors awaiting a raft of UK data this week before deciding on whether to add to favourable positions or not. The Bank of England's monetary policy committee (MPC) meets this week but is expected to keep rates steady at record lows. All three of the closely watched UK surveys of purchasing managers were below forecasts last week, although all are ...

Sterling ends on weaker note after data, dollar gains LONDON: Sterling headed towards the bottom of its recent range against the dollar on Friday, hurt by a bullish week for the US currency and a couple of marginally weaker than expected numbers on the British economy. There was a brief flurry of activity after US jobs numbers that had been seen as a potential trigger for a surge higher for the dollar. But by late afternoon in London the pound was trading roughly where ...
Dollar index hits 5-week high before US jobs data LONDON: The dollar was in demand on Friday, trading at a five-week high against a basket of currencies, as investors positioned for the possibility of an upside surprise in US non-farm payrolls due later in the day.Analysts polled by Reuters expect 200,000 jobs to have been created in March, which would be the highest in four months, after rising by 175,000 in February. The unemployment rate is seen falling one-tenth of a percentage point to ...
Lira eases after Turkey's Erdogan says central bank should cut rates ISTANBUL: Turkey's lira weakened on Friday after Prime Minister Tayyip Erdogan said the central bank should cut interest rates, a day after the bank's governor had said fighting inflation remained a priority and rates at existing levels would do the job. Investors have long feared the government exerting pressure on the central bank to keep rates artificially low as it moves into an election cycle, and have warned how detrimental this would be to Turkey's ...
Sterling on weaker run after data, dollar gains LONDON: Sterling headed for the bottom of its recent range against the dollar on Friday, hurt by a bullish week for the US currency and a couple of marginally weaker than expected numbers on the British economy.The dollar index, measuring its strength against a basket of currencies, rose to a five-week high in early trade, helped by growing speculation of the potential for easier monetary policy in both Japan and Europe. There is no such ...
Euro steady ahead of inflation data, ECB LONDON: The euro held firm on Monday ahead of inflation data that will set the tone for this week's meeting of the European Central Bank, which again faces the dilemma of whether to take more action to spur growth and weaken the currency. Comments from Bundesbank chief Jens Weidmann on Saturday cooled hopes, based on a press interview last week, that Germany's resistance to emergency steps to pump more money into the euro zone economy ...
Dollar reserve role secure but set to shrink: BIS BERLIN: The dollar's share of central bank reserves may fall by as much as 10-15 percentage points in coming years without threatening its role as the world's main reserve currency, a senior official from the Bank of International Settlements said on Saturday. Peter Zoellner, head of the banking department at the central banks' central bank, also told one of the year's biggest gatherings of foreign exchange dealers that the role of China's renminbi would continue ...


Index Closing Chg%
Arrow DJIA 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64

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Foreign Debt $60.9bn
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WeeklyApril 14, 2014
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