Rand near 2-week highs, eyes on MPC
South Africa’s rand traded within reach of the previous day’s two-week high on Wednesday.
South Africa’s rand traded within reach of the previous day’s two-week high on Wednesday.
South Africa’s rand was stable against the dollar early on Monday while bond yields hovered near 20-month lows, as emerging markets continued to benefit from the European Central Bank’s larger-than-expected stimulus package.
The rand weakened on Thursday, but local bonds continued to draw buyers, as investors’ aversion for riskier yet higher yielding assets eased following weak inflation figures in the eurozone
The rand pulled back from the previous day’s one week lows against the dollar on Friday but was not of the woods as investors braced for a likely deterioration in economic growth and budget deficit forecasts next week.
JOHANNESBURG (Reuters) –Â South Africa’s rand traded softer than its previous close against the dollar on Thursday and could weaken further if the latest trade data shows a wider-than-expected deficit for June. The rand was at 10.6880 per dollar by 0642 GMT, down 0.26 percent from where it ended the New York session on Wednesday. Government … Read more
JOHANNESBURG (Reuters) –Â South Africa’s rand traded firmer against the dollar on Wednesday, touching fresh four-week highs as emerging market currencies continued to benefit from the previous day’s lower than expected U.S. inflation data. Domestic inflation data due out at 0800 GMT could spur the rand further if prices rose higher in June than forecast, backing … Read more
JOHANNESBURG (Reuters) –Â South Africa’s rand weakened against the dollar on Wednesday as a strike by 220,000 workers in the metals sector entered its third week and looked unlikely to be resolved soon. The rand slipped 0.2 percent from its close in New York to 10.7300 at 0555 GMT. The local unit made modest gains against … Read more
JOHANNESBURG (Reuters) –Â South Africa’s rand traded close to the previous day’s 8-day high versus the dollar on Thursday and looked set to tread a narrow range in a session devoid of market-driving domestic data releases. Investors were still buoyant on the currency a day after central bank data showed the current account unexpectedly narrowed in … Read more
JOHANNESBURG (Reuters) –Â South Africa’s rand fell to a month-low against the dollar on Monday as the currency continued to struggle in the face of a wider-than-expected trade deficit and a crippling, five-month strike in the platinum sector. The rand was trading at 10.569 to the dollar at 0702 GMT, after earlier dropping to a session … Read more