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- Barclays secures Saudi licence, plans Riyadh office by 2026
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- Closing Bell: Saudi main index rises to close at 11,619?
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- HSBC to take $1.1 billion hit after Luxembourg court ruling in Madoff case
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- UAE's richest families are betting on AI and crypto to grow and protect wealth
- UK Chancellor Rachel Reeves says she is hopeful for Gulf trade deal 'very soon'
08/03/2017 06:07 AST
The pound extended losses amid renewed political uncertainty over the UK's plan to exit the European Union, while the dollar mostly traded in a small range ahead of tier-one economic data expected later this week.
Sterling breached key technical support at 1.2200 per dollar for the first time since January 18 amid concern Prime Minister Theresa May could face another setback in her effort to trigger Brexit as lawmakers demand more power to shape the final deal she reaches with the EU. In addition, the pound sentiment was also weakened by data showing the pace of UK annual house-price growth slowed, adding weight to predictions of an economic slowdown.
The Aussie gained after the Reserve Bank of Australia said the global economy has improved while local consumption growth was stronger. It pared gains thereafter as traders took note of the RBA's warning over the negative effects of a strong currency.
Despite persistent Brexit uncertainties, upcoming euro-area elections and rising expectations for an imminent US interest-rate increase, global currency volatility remains in its downward trajectory this year. Demand to own gamma for the short term remains relatively low, despite sporadic increases, according to traders in Europe.
Gulfnews
| Ticker | Price | Volume |
|---|
| US Dollar | 1.00 |
| Euro | 0.88 |
| British Pound | 0.77 |
| Japanese Yen | 113.21 |
| Saudi Riyal | 3.75 |
| Kuwaiti Dinar | 0.30 |
| Derham Emirati | 3.67 |
| Bahraini Dinar | 0.38 |
| Omani Riyal | 0.39 |
| Qatari Riyal | 3.67 |
06/10/2025
The global financial system is slowly but steadily shifting away from its reliance on the US dollar, an expert said. While the greenback remains the cornerstone of international trade and finance, it
Khaleej Times
01/10/2025
The US dollar fell on Tuesday as investors braced for a possible US government shutdown that would delay release of the crucial jobs report this week, while the Australian dollar rose after the centr
QNA
29/09/2025
The Iranian rial plummeted to a record low against the US dollar on Sunday after the reinstatement of United Nations sanctions, according to currency-tracking websites.
On the black market,
Asharq Al Awsat
26/09/2025
A consortium of nine European banks, including ING and UniCredit, said on Thursday they are forming a new company to launch a euro-denominated stablecoin, a move they hope will help counter U.S. digi
Khaleej Times
19/09/2025
Up until now, cryptocurrencies have only been available via specialised exchanges and platforms. But in the UAE, banks are starting to offer a simpler alternative to buying and selling crypto.
Khaleej Times
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