The rand pounced on the opportunity to benefit from a retreating dollar and robust emerging market sentiment according to NKC Research. busrep
JOHANNESBURG - The rand pounced on the opportunity to benefit from a retreating dollar and robust emerging market sentiment according to NKC Reserach.
However, the local unit consolidated steady gains as weak trade data from China left only a small dent in risk appetite. The FOMC is due to announce its June policy decision tomorrow after a two- day convention, with the expectation for no change in the policy rate despite the surprise May jobs report. The updated dot plot and economic projections will provide more insight into whether authorities deem changes to the previously announced credit facilities necessary.
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