[CURRENCY] At 11:30, the rand traded at R17.32 against the dollar, while the dollar inched higher against major currencies amid warnings of an impending recession. Moneyweb Currency
The rand was little changed in early trade on Wednesday, while the dollar inched higher against major currencies amid warnings of an impending recession. The risk-sensitive rand had strengthened on Tuesday, as markets welcomed a surprising jump in economic growth figures and a pause in the political turmoil around President Cyril Ramaphosa amid the “Farmgate” scandal. The dollar index was last trading 0.22% higher at 105.
Comments by top bankers from JPMorgan Chase & Co, Bank of America and Goldman Sachs further aided the greenback, after they said overnight that the banks are bracing for a worsening economy next year. “Currencies are keeping within fairly narrow ranges with good US economic data raising the likelihood of inflation remaining elevated and the Fed having to continue raising interest rates,” Andre Cilliers, currency strategist at TreasuryONE, said.
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.
JSE weakens as strong US economic data fuels talk of more rate hikesAt 10.43am, the rand had strengthened 0.74% to R17.3392/$
Read more »
Rand steady ahead of Q3 GDP data[CURRENCY] At 11:30, the rand traded at R17.34 against the dollar, ahead of the release of domestic growth data for the third quarter. Moneyweb Currency
Read more »
MARKET WRAP: Rand and JSE gain, but risks remainDomestic political developments, US Fed’s next move on interest rates and an increase in risk aversion seen as key issues
Read more »
JUST IN | Big diesel price cut announced, petrol hiked | BusinessOn Wednesday, the price of both 93 and 95 unleaded petrol will rise by 59c a litre, while diesel will fall by between R1.52 and R1.57 a litre. | News24_Business
Read more »
Rand under pressure as politics dominates the conversationThe rand has recovered some of its losses since the Ramaphosa findings last week – but political uncertainty is keeping the unit under pressure.
Read more »
PROGRESS REPORT: Special Investigating Unit uncovers multimillion-rand Covid-related corruption in Northern CapeA Special Investigating Unit report has revealed unlawful processes in the procurement of Covid-related equipment in the Northern Cape, costing many millions of rands.
Read more »