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The dollar rose against the euro on Friday, recovering from an early swoon after better-than-expected US durable goods data for April eased investor concerns about the US economy. The yen overall extended gains from the previous session, as weak equity markets helped the safe-haven currency recover after recent declines. The euro was last at $1.2922, down 0.1 percent on the day, and closer to the session low of $1.2903 than the session peak of $1.2995.

The dollar was on track for its biggest daily drop in more than five weeks against the yen on Thursday after a sharp slide in Japanese stocks and weak Chinese factory activity data prompted a rush for the safe-haven Japanese currency. The yen also rallied versus the euro and other currencies, further buoyed by a jump in 10-year Japanese government bonds yields, to 1.000 percent, the highest in a year.
The yen surged on Friday as volatility in Japanese shares after a 7.3 percent plunge the day before spooked yen-sellers, prompting a wholesale unwinding of bets to profit from the Bank of Japan's monetary easing. The yen edged near a two-week high on the dollar and seven-week highs against the Australian dollar, with some traders speculating selling was mostly from algorithm players, who often execute trades based on correlation patterns of the past.
Sterling fell against the dollar on Friday, with disappointing economic data and prospects of more policy easing by the Bank of England leaving it vulnerable to further losses. While the US Federal Reserve hinted this week at a paring back of its current $85 billion-a-month stimulus programme, the view that incoming BoE governor Mark Carney may push for aggressive monetary easing could undermine the pound.
The euro rose against the dollar on Friday after a German business sentiment survey beat forecasts, suggesting Europe's largest economy is picking up and making further euro zone monetary easing less likely. After strong gains on Thursday, the yen remained firmer as weak equity markets helped the safe-haven currency recover after its recent hefty falls.
The Indian rupee weakened on Friday, falling 1.3 percent for the week, extending its losing streak to a third successive week, hurt by concerns about a possible pullback in global fund flows and the country's external deficit. The rupee found support from the central bank's plan to ease hedging rules for exporters and importers, a move which is expected to increase supply of dollars.
The European Central Bank is looking into expanding its range of policy tools, while the US central bank is mulling scaling back its support measures, highlighting the contrasting fortunes between the world's two biggest economic blocs. ECB Executive Board member Peter Praet said late on Wednesday that the central bank could try new policies if needed to battle deflation risks, adding that the central bank was also weighing measures to encourage more lending in the euro zone.
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Index Closing Chg%
Arrow DJIA 15,303.10 0.06
Arrow Nasdaq 3,459.14 0.01
Arrow S&P 1,649.60 0.06
Arrow FTSE 6,654.34 0.63
Arrow DAX 8,305.32 0.56
Arrow CAC-40 3,956.79 0.26
Arrow Nikkei 14,612.45 0.89
Arrow H.Seng 22,618.67 0.23
Arrow Sensex 19,704.33 0.15






Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln