The rand held onto gains of about 1% against major global currencies on Tuesday, buoyed by generally positive global sentiment, but ahead of risk-events beginning on Wednesday.After being on the back foot from a resurgent dollar on Monday, emerging-market currencies including the rand had gained overnight, something analysts attributed to profit-taking in the greenback.Signs of conciliation between the US and China over trade issues had lifted sentiment, with the Dow registering a strong performance on Monday.There were no key economic data releases or big moves in fixed-income instruments to take the cue from on Monday, FXTM chief market strategist Hussein Sayed said. Traders were waiting for Wednesday’s minutes from the latest US Federal Reserve federal open market committee meeting, to see any new signals related to US monetary policy.Locally, Wednesday also sees the release of consumer inflation data for March, while on Thursday, the Reserve Bank will announce its latest monetar...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.