Fara Wave

The US dollar has spent the past week consolidating within thin ranges, as low volumes did little to spark directional trade. This left the greenback down 1 percent against the euro and up roughly 1.5 percent versus the British pound and Japanese yen by Friday’s close. In the coming week,…
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The US dollar has spent the past week consolidating within thin ranges, as low volumes did little to spark directional trade. This left the greenback down 1 percent against the euro and up roughly 1.5 percent versus the British pound and Japanese yen by Friday’s close. Meanwhile, the US dollar…
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The British Pound/Japanese Yen is starting to show signs of a makeshift bottom, as weekly oscillators have registered their most extremely oversold conditions in over 20 years and subsequently reversed. The short-term picture is less clear, but the pair continues to hover near its lowest levels since 1995.
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Dubai stocks plunged 5.5 per cent today back down to the previous low of 1,800 amid worries about declining oil prices, a local house price crash and continued poor liquidity in the banking sector.
This is almost a perfect storm with the Dubai Financial Market down by more than 70 per cent this year, making it [...]

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What a ridiculous name to propose for the GCC common currency! The Dubai International Financial Centre yesterday published a very sensible proposal for weighting currencies for a new currency but then ruined by suggesting the ‘Khaliji’ as its name.
The new currency needs a name that embodies solidity and strength, [...]