Dollar Rises as Global Growth Concern Spurs Safe-Asset De


30/03/2012 22:38 AST  Bloomberg

The yen rose against the dollar and euro as concern the rate of global economic growth is slowing spurred demand for safer assets as the nation approaches its fiscal year end.

The Japanese currency strengthened against the majority its 16 major counterparts amid speculation Japanese companies will repatriate overseas earnings before the end of the fiscal year on March 31. The dollar strengthened earlier after a report showed U.S. factory orders trailed forecasts and the United Kingdom revised first-quarter growth downward. The 17-nation euro erased losses against the dollar after a draft statement from European finance ministers showed governments are preparing to increase rescue funds.

For more on this Click Here

Forex News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP
Most Viewed Companies
Ticker Price Volume
MESC 20.35 1,920,875
RIBL 21.6 634,605
SAPTCO 40.6 815,503
EMAAR 11.05 10,764,006
WALAA 33.4 798,395
ALKHODARI 64 825,551
SAGRINSURANCE 50 1,058,955
Recent News

Ooredoo Kuwait cuts jobs as market share shrinks
Ooredoo Kuwait has cut 165 jobs, the country's No 3 mobile operator by subscribers said on Tuesday, as its market share shrinks and profits fall.

The job losses account for about 15 per ce

Zain Bahrain extends IPO subscription period
Zain Bahrain, a leading telecom company in the kingdom, has extended the subscription period for its initial public offering (IPO) until the end of this month.

The IPO started on September

Japan to cut economic assessment for September
TOKYO -- The Japanese government will likely downgrade its monthly assessment of the economy for the first time in five months in September in light of a drop in individual consumption caused by bad

Yen's weakness a 'natural' reflection of US strength: Kuroda
The yen's recent declines against the dollar are in line with U.S. economic conditions, Bank of Japan Gov. Haruhiko Kuroda told reporters Tuesday, signaling once again that he is content to let the J

Deeper Saudi Oil Cuts Seen After Biggest Drop Since ’12: Energy
Saudi Arabia will need to keep cutting oil output to sustain prices above $100 a barrel, even after the kingdom’s largest reduction in two years, according to BNP Paribas SA and Societe Generale SA.<

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?