Rand subdued ahead of Fed chair Powell’s testimony
The local currency is expected to spend much of the day range-bound as it awaits US rates clues
10 July 2019 - 09:10
The rand was marginally softer on Wednesday morning and is expected to remain range-bound on the day as markets await testimony later by US Federal Reserve chair Jerome Powell.
Powell’s remarks before Congress will be closely scrutinised as investors seek to gauge the scope and pace of future Fed policy, the major factor determining current market sentiment...
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