Dovish Fed may cheer JSE
Remarks by Fed chair Jerome Powell and other US central bankers helped the rand strengthen 4c overnight
11 January 2019 - 07:51
Buoyant Asian markets pointed to a fourth trading day of gains for the JSE on Friday morning. Miners, however, may suffer from a strengthening rand.
The rand may have been boosted by US Federal Reserve chair Jerome Powell’s speech to the Economic Club of Washington on Thursday night. Powell used the word “patient” or “patiently” five times when referring to the path of interest-rate increases, Dow Jones reported. Powell’s deputy, Richard Clarida, gave a similar speech in New York, saying US monetary policy, after four rate increases in 2018, is not on a preset course...
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