GulfBase Live Support
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
US Dollar | 1.00 |
Saudi Riyal | 3.75 |
Derham Emirati | 3.67 |
Qatari Riyal | 3.65 |
Kuwaiti Dinar | 0.30 |
Bahraini Dinar | 0.38 |
Omani Riyal | 0.39 |
Euro | 0.81 |
British Pound | 0.71 |
Japanese Yen | 104.70 |
05/04/2018
Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.
Oman’s g
Gulf News
02/04/2018
China’s yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a
Gulf News
01/04/2018
The US dollar’s share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies’ shares of reserves grew, data rel
Gulf News
29/03/2018
The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin
The National
29/03/2018
Turkey’s lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu
Gulf Times