South Africa's rand firmed in early trade on Friday as global risk demand was aided by signs the United States central bank would keep lending rates low despite rising inflation. A Federal Reserve official this week said the surprise jump in consumer inflation had not dented the bank's plans to keep its
AfricaSouth Africa s rand firmer as U.S. Fed stance supports risk demand
Reuters
2 minute read
A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
South Africa s rand firmed in early trade on Friday as global risk demand was aided by signs the United States central bank would keep lending rates low despite rising inflation.
A Federal Reserve official this week said the surprise jump in consumer inflation had not dented the bank s plans to keep its support for the economy.
At 0700 GMT the rand was 0.35% firmer at 14.0875 per dollar, compared to an overnight close of 14.1375.
AfricaSouth Africa s rand weaker in tentative trade ahead of Fed policy decision
Reuters
2 minutes read
A street trader counts out change for a customer in Durban, September 8, 2015. REUTERS/Rogan Ward/File Photo
South Africa s rand was weaker early on Wednesday as caution set in ahead of the U.S. Federal Reserve s latest policy decision, which will likely set the tone for global currency trading in the coming sessions.
At 0715 GMT, the rand was 0.2% weaker at 14.4100 per dollar, its worst level in two weeks, compared with an overnight close of 14.3750 overnight in New York.
With local markets closed on Tuesday for a national holiday, rand volumes were thin overnight, keeping the currency within a recent range tilted to the upside as investors worried about rate hikes by the Fed.
Rand weaker in tentative trade ahead of Fed policy decision
By Reuters
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JOHANNESBURG - The rand was weaker early on Wednesday as caution set in ahead of the US Federal Reserve s latest policy decision, which will likely set the tone for global currency trading in the coming sessions.
At 0715 GMT, the rand was 0.2 percent weaker at 14.4100 per dollar, its worst level in two weeks, compared with an overnight close of 14.3750 overnight in New York.
With local markets closed on Tuesday for a national holiday, rand volumes were thin overnight, keeping the currency within a recent range tilted to the upside as investors worried about rate hikes by the Fed.
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In early trade the rand was at R15.28 per dollar.
By Mfuneko Toyana, Reuters
5 Mar 2021 09:18
Image: Shutterstock
South Africa’s rand was firmer in early trade on Friday after leading emerging market losses overnight, with the recovery aided by indications that the United States central bank will keep lending rates low and monetary policy loose.
At 09:11 the rand was 0.17% firmer at R15.29 per dollar, recovering from a slide to a five-week low of R15.35 overnight as the greenback raced to new highs against most currencies as US Treasury yields rose again.
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