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Sterling slips against buoyant Fed-boosted dollar LONDON: Sterling fell against the dollar on Thursday as interest rate differentials moved in favour of the greenback after the Federal Reserve gave an upbeat assessment of the U.S. economy.The gap between rate-sensitive two-year Treasury yields and British gilts widened, reflecting a view that the Bank of England is likely to keep rates lower until well into 2016 and the Fed could become the first major central bank to lift interest rates later this year.Sterling fell 0.15 percent to $1.5115, while against the euro it was 0.1 percent lower at 74.65 pence per euro."The Fed's outlook on the U.S. economy is positive for the dollar," said Nawaz Ali, market analyst at Western Union. "That is one of the main reasons for sterling to underperform."Bank of England Chief Economist Andrew Haldane on Wednesday reiterated the message that the BoE was in no rush to raise interest rates and that when hikes ...

Turkey's lira weakens to record low on rate cut expectations ISTANBUL: The Turkish lira tumbled to a new record low against the dollar on Thursday on expectations that the Central Bank will cut interest rates at an extraordinary monetary policy committee meeting as early as next Wednesday.The Federal Reserve's upbeat view on the U.S. economy and signal that it was on track to raise interest rates this year also hit the lira, which slipped as far as 2.4145 from 2.3780 late on Wednesday and a ...
Russian rouble, stocks slides on oil, threat of more sanctions MOSCOW: The Russian rouble weakened on Wednesday and stocks fell, with a retreat in oil prices and a threat of new sanctions on Moscow for its role in the Ukraine crisis promising to weigh on the currency in the near future.At 1425 GMT, the rouble was around 1.7 percent weaker against the dollar at 67.96 and 1.4 percent down versus the euro at 77.10, respectively. Oil, Russia's chief export, slid towards $49 per barrel.Russian stocks ...
Oil slips to $49 as US crude inventories hit record LONDON: Oil slipped to $49 a barrel on Wednesday after U.S. crude stocks soared to the highest on record last week, and as a firmer dollar weighed on prices.The U.S. Energy Information Administration said U.S. crude stocks rose by 8.9 million barrels last week to 406.73 million barrels, the highest level since records began in 1982.While the build was not quite as large as the 12.7 million barrel increase reported by industry group the American ...
Dollar inches up, but caution rules before Fed statement LONDON: The dollar climbed against a basket of currencies on Wednesday, recouping some of the previous day's sharp losses, although gains were muted before a statement from the Federal Reserve after its policy meeting.Interest-rate sensitive two-year Treasury yields held above 0.50 percent, lending support to the dollar.The U.S. currency fell on Tuesday after weaker-than-forecast corporate earnings reports and durable goods data made some traders and investors nervous that the Fed could turn more cautious in ...
Dollar steadies before Fed, Europe slips on Greece LONDON: Stocks and the dollar retrenched on Wednesday amid speculation the Federal Reserve will take a dovish turn in its post-meeting statement later as signs emerge that the greenback's strength is hurting company profits.Worries that Greece's new government is heading for clashes with the rest of the euro zone over its debts saw European shares stumble for a second day as Greek bonds also took another dive.Gadget giant Apple had grabbed headlines overnight after it ...
Dollar climbs, but caution reigns before Fed statement LONDON: The dollar rose against a basket of currencies on Wednesday, recouping some of the previous day's sharp losses, on expectations the Federal Reserve is unlikely to deliver significant changes to its policy outlook.Two-year Treasury yields held above 0.51 percent in European trade, providing support to the dollar. It fell on Tuesday after weaker-than-forecast corporate earnings and durable goods data.The Fed's first two-day policy meeting of the year concludes on Wednesday, and policymakers will likely ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln