[CURRENCY] At 11:30 the rand was at R17.28 against the dollar, extending the previous session’s rally on lower than expected US inflation data that raised hopes the Federal Reserve could soon start to scale back its hefty increases to interestrate.
The rand firmed in early trade on Friday, extending the previous session’s rally on lower than expected US inflation data that raised hopes the Federal Reserve could soon start to scale back its hefty increases to interest rate.
“The outlook for the rand has improved considerably, and this past week’s performance is a sign of things to come,” ETM Analytics wrote in a research note.The government’s benchmark 2030 bond was stronger in early deals, with the yield down 12 basis points at 10.160%.
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