Rand stable above R13/$ ahead of the week’s risk events
Global markets are somewhat subdued as investors eye events that could move the market, including central bank announcements and the US-North Korean summit
The rand was marginally softer against the dollar and euro on Monday afternoon, although it was flat against a weaker pound, with markets somewhat cautious ahead of risk events this week.Markets are waiting for the outcomes of an historic meeting between US President Donald Trump and North Korean President Kim Jong-un on Tuesday, with analysts saying this could cause a spike in risk-off trade.Although meetings between world leaders are not usually market moving, this summit will be closely watched, FXTM head of global currency strategy Jameel Ahmad said. "Assuming that the meeting goes as planned, there are a number of potential winners and losers from alternative scenarios of the summit ending positively or negatively," he said.Much focus will also be on global monetary policy, with the US Federal Reserve widely expected to raise interest rates for the second time in 2018 on Wednesday.Markets will also keep a close watch on the European Central Bank, which is widely expected to ann...
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