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Stocks hover near 3-month highs; pound in spotlight (Oman Daily Observer - 19/01/2017)

Asian stock markets stabilised near three-month highs on Wednesday, helped by Hong Kong and Chinese shares, as investors judged US President-elect Donald Trump’s concerns over a stronger dollar to be beneficial to some of the regional bourses.

Pound rebounds on Brexit speech (Arab News - 18/01/2017)

The British pound rebounded above $1.23 on Tuesday after Prime Minister Theresa May declared that any Brexit deal would be voted by Parliament. The London stock market fell further as the stronger pound weighed on share prices of multi-national firms.

China’s central bank sells net $46.1bn in FX in Dec (Arab News - 17/01/2017)

China’s central bank sold a net $46.1 billion worth of foreign exchange in December, as the authorities continued to support the sliding yuan in the face of a rising dollar and slowing economic growth. Net foreign exchange sales by the People’s Bank of

Pound tanks on Brexit fear as stocks retreat (Arab News - 17/01/2017)

The pound slumped Monday on reports British Prime Minister Theresa May was ready to take the country out of the EU in a so-called “hard Brexit.” Sterling’s weakness sent London’s FTSE 100 index to a fresh record high, while eurozone and Asian stock

A strong dollar may well be only America’s problem (Gulfnews - 12/01/2017)

Only a small group of central banks refrain from intervening in the foreign exchange market to stabilise their currencies’ exchange rate or coax it in the desired direction. Even when they do not intervene directly, their interest rate policies are often

UAE money transfers surge as expats cash in on strong dollar (Gulfnews - 12/01/2017)

Outgoing remittances from the UAE surged this week, as the US dollar strengthened against other major currencies including the pound sterling. The greenback has been on a winning streak against the British pound, Indian rupee, Philippine peso and other

Dollar’s not the only currency gaining on everyone (Gulfnews - 11/01/2017)

Bitcoin is worth more than $1,000 for the first time since 2013, when it crossed that line very briefly. If one considers it a currency — which is open to debate — it would be the best-performing one in the world in the last 12 months: It has gained more

Turkish lira hits record low, EM stocks slip (Arab News - 10/01/2017)

The Turkish lira hit record lows against the dollar on Monday as expectations of faster tightening by the US Federal Reserve added to domestic economic and political pressures emerging market (EM) equities in general slipped 0.4 percent. The lira was

Sterling takes Brexit bashing, dollar regains traction (Arab News - 10/01/2017)

Talk of Britain dramatically reworking trade ties with the EU after Brexit sent the pound tumbling to two-month lows on Monday, as signals the US could raise interest rates three times this year lifted the dollar. The pound slid around 1 percent against

Egypt’s pound strengthens at banks as demand from importers eases (Gulfnews - 09/01/2017)

The Egyptian pound strengthened slightly at banks as demand for dollars by importers eased, bankers told Reuters on Sunday. The dollar was being bought for around 18 pounds at most banks, down from around 19 last week. Banks were paying clients around

China forex reserves fall by $320bn in 2016 (Arab News - 08/01/2017)

China’s foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of US President-elect Donald Trump’s inauguration. China’s

South Africa’s rand firms as dollar retreats, stocks down (Business Recorder - 05/01/2017)

South Africa's rand firmed on Wednesday as the US dollar fell against a basket of currencies, with investors cautious about increasing bets on the greenback before getting fresh clues on the US economy and the timing of interest rate rises. Stocks were

C$ jumps to near 3-week high amid upbeat global data (Business Recorder - 05/01/2017)

The Canadian dollar strengthened to a near three-week high against its US counterpart on Wednesday, together with gains for other commodity-linked currencies after upbeat global economic data. A batch of reports from Europe showed that French consumer

Strong dollar lifts Japan shares to 13-month high (Oman Daily Observer - 05/01/2017)

The US dollar crept nearer to 14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt. Spreadbetters pointed to a firm opening for European bourses, while

Turkey lira crashes to historic low on security, inflation (Arab News - 04/01/2017)

Turkey’s embattled currency the lira on Tuesday crashed to a new historic low against the US dollar due to higher than expected inflation figures and security worries after the Istanbul nightclub attack. The lira was trading at 3.59 to the greenback, a

China’s new rule on yuan transfers not a capital control measure (The Gulf Today - 03/01/2017)

China’s new rules on cash transactions and overseas transfers of yuan currency are not forms of capital controls, the state news agency Xinhua said, citing a central bank economist. Banks and other financial institutions in China will have to report all

UK round pound to be ditched in October in counterfeit fight (Gulf Times - 02/01/2017)

The UK’s round pound coin will no longer be legal tender from October, allowing for a six-month transition to a new 12-sided version that will enter circulation on March 28. Britons should aim to spend the coins or exchange them at a bank before the

Asian flash surge takes euro to $1.07 (Business Recorder - 01/01/2017)

A short-lived surge in the euro dominated this year's last day of trade in major foreign exchange markets on Friday, with dealers citing a handful of orders as driving the dollar to its lowest since Dec. 8. The euro climbed to as much as $1.07, two full

Dollar gains 3.7% against currencies in 2016 (The Peninsula - 01/01/2017)

New York: The US dollar notched its fourth straight year of gains against a basket of major currencies. The dollar index, which measures the greenback against a basket of six major rivals, gained about 3.7 percent for the year. The dollar index rose

China said to boost scrutiny of foreign currency purchases (Gulfnews - 01/01/2017)

China plans to step up its monitoring of how citizens use their annual quota for changing yuan into foreign currencies, according to four people familiar with the matter. The State Administration of Foreign Exchange will require extra documentation for

Happy 15th birthday, euro (Arab News - 01/01/2017)

The euro, used by nearly 340 million people each day, celebrates its 15th birthday on Sunday. Here is a snapshot of some key points and memorable moments in the life of the euro: The euro was launched on Jan. 1, 1999, initially existing only as a

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