Sunday 29, June 2008 by

The summer of discontent, part 2

NBK’s latest weekly money market report says the dollar weakened across the board in a week rich in economic figures and the much awaited Federal Reserve meeting. The euro tested the 1.58 mark, sterling breached 1.9900, and the yen went back to a three-week low of 106.13 after hovering around the 108 in that period. The Australian dollar also came back to the 0.96 level, after a brief dip to the 0.93 in mid-June. The Swiss franc also strengthened against the dollar and went as low as 1.01. Oil prices broke the $140 barrier, pushing inflation expectations higher across the globe.

Features & Analyses

Islamic Finance The path forward

After years of milestones, Islamic finance in Dubai and beyond still has work to do, writes Abdulla Mohammed Al Awar, CEO of DIEDC read more