The spending-cut proposals unveiled by U.S. House of Representatives Speaker Kevin McCarthy on Monday could fall hardest on people in Republican-leaning states, a Reuters analysis of federal spending data found.
Global investors were big buyers in money market funds for a seventh straight period in the week to April 12 after a strong U.S. jobs report heightened expectations that the U.S. Federal Reserve would raise interest rates in May.
Asian bonds secured their biggest monthly foreign inflows in thirteen months in March on hopes that major central banks would end their rate-hike cycle soon to boost the economies from a slowdown.
The South African rand extended the previous day's strong gains early on Friday, supported by expectations that the U.S. Federal Reserve may soon pause its rate-hiking cycle.
The South African rand weakened on Friday as the dollar jumped higher after hawkish comments by a Fed official on the U.S. central bank's future interest rate trajectory.