The SA currency hops 2% after the US Federal Reserve’s recent policy meeting, joining the global market rally
The rand stabilised at very strong levels on Thursday morning after logging its biggest one-day gain against the dollar since November as traders interpreted the US Federal Reserve chair Jerome Powell’s messaging on inflation and interest rates to be dovish.
The SA currency, which is a proxy of sentiment towards emerging markets, hovered around R17/$ after jumping 2% on Wednesday night after the Fed’s policy meeting at which it hiked rates by 25 basis points as expected...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE and rand firm as Fed meeting draws to a closeAll eyes are on Fed chair Jerome Powell who will give a briefing after a widely expected 25 basis-point rate hike
Read more »
Rand Report: Rand Slides Further Amidst Dovish SARB ActionRand turbulence was partially offset by risk-on investment sentiment in the global financial markets. Find out more in this article
Read more »
JSE PREVIEW: JSE likely to remain in narrow range ahead of Fed meetingMarkets have priced in the 25 basis point increase in US rates at the US Federal Reserve meeting
Read more »
JSE PREVIEW: JSE likely to remain in narrow range ahead of Fed meetingMarkets have priced in the 25 basis point increase in US rates at the US Federal Reserve meeting
Read more »
Rand on a slippery slope as energy crisis shows no signs of abatingLocal currency is at its weakest level against the dollar in about a month, decoupling from global risk-on sentiment
Read more »
Rand knocked out by energy crisisInvestec’s chief economist outlines the rand’s performance for the first month in 2023.
Read more »