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The pound slipped to two-month lows against the dollar on Tuesday ahead of a fresh set of mobility restrictions to be imposed by British Prime Minister Boris Johnson to tackle the second wave of the coronavirus outbreak.
Sterling fell 0.51% to $1.2751 against the dollar, the lowest level since July 24 while the pound was down 0.25% against the European common currency at 92 pence .
Johnson will tell people on Tuesday to work from home and announce new curbs on pubs, bars and restaurants, stopping some way short of a full national lockdown of the sort he imposed in March.
"Assuming a full two-week lockdown ('circuit-breaker') is avoided, the markets may show signs of relief given there has for some time been a strong assumption that full lockdowns like in March-May would be avoided," MUFG Research said in a note.
According to a press statement released by the Central Bank on Tuesday, money supply aggregates, M2, increased by 2.2 per cent, from Dhs1,380.5 billion at the end of November 2019 to Dhs1,411.5 billion at the end of December 2019.
European stocks skidded off record highs and sterling dropped more than 1% on Tuesday, as reports that Britain’s prime minister was ready to play rough in Brexit talks brought December’s cross-market rally to a halt.
Sterling rose against the dollar on Monday, as plans to ease coronavirus lockdowns in the UK and signs the economy may bounce back due to pent-up demand kept the currency just below the $1.27 touched late last week.
World stocks remained on course for their best month ever on Friday as recent vaccine progress, Joe Biden’s US presidential election win, hopes for further stimulus, a commodity surge and descending dollar all lifted the spirits.
Ras Al Khaimah: Ras Al Khaimah International Airport (RAK Airport) on Friday welcomed the first scheduled SpiceJet passenger flight, with the aircraft’s arrival heralding the commencement of both a new phase of operations for the UAE transport
The UAE has taken a leadership role in the Middle East region in technology adoption in real estate sector. Dubai has largely been responsible for changing the mindset when it comes to adopting new technologies.