The euro pulled back from a
three-week high against the dollar hit earlier on Wednesday as
investors repositioned ahead of a policy statement from the U.S.
Most traders expect the Federal Reserve to restate its
intention to keep rates near zero throughout 2014 and possibly
hint at more easing, especially after recent weaker jobs data.
Such comments could be positive for the single
However, traders expected any gains in the euro on the Fed
statement to be limited as the currency remained vulnerable to
budget problems and political uncertainty in several euro zone
Gold hits 3-1/2 week high
Gold hit a 3-1/2 week high on Thursday and silver rose nearly 3 percent as escalating tensions in the Middle East knocked stocks and the dollar and drove investors into assets viewed as lower risk, s
$67m compensation for Almarai
Saudi Arabia's Almarai, the Gulf's largest dairy company, received 250 million riyals ($66.7m) from an insurer in compensation for a fire at one of its bakeries, it said yesterday.
$205m raised from sukuk by HSBC unit
The Malaysian Islamic banking arm of HSBC Holdings has raised 750 million ringgit ($205m) from the sale of five-year Islamic bonds (sukuk) at a yield of 4.24 per cent, IFR reported yesterday.