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- Stocks mixed as traders eye US data for Fed signals
- Gulf Bank wins 'Best Use of Social Media in Kuwait' award from World Finance
- Tariff uncertainties, poor demand weigh on global economies
- Oman Expands Its Investment Presence in the South African Market
- Oman launches 6 new industrial projects
- OAB inks $200mn financing deal for polysilicon project in Sohar Freezone
- MSX remains top-performing GCC market as 5-month rally continues
- Alba wins 'Excellence in Safety' award at top UK event
- CGC lands $194m Kuwait Oil Company project contracts
- Nesma secures $224m Saudi substation contract
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 |
28/11/2025
The U.S. dollar could weaken further before staging a recovery next year, according to Morgan Stanley's 2026 Investment Strategy Outlook.
"The U.S. dollar is likely to be on a choppy path ov
Times of Oman
28/11/2025
The Indian rupee's steep drop recently has opened one of the strongest payout windows in years for UAE-based Indian workers, students and business owners sending money home.
The currency tou
Gulfnews
28/11/2025
The U.S. dollar headed for its steepest weekly drop in four months on Thursday as investors bet on further monetary easing, amid pressure from President Donald Trump to cut rates.
The yen ed
Reuters
25/11/2025
The Indian rupee logged its worst day in a month on Monday as a drop below the 88 per U.S. dollar mark spurred a flight out of long wagers on the currency, while persistent dollar demand from importe
Reuters
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
Financial Information Co.
Saudi Arabia