JSE lifts a little after Jerome Powell strikes dovish note
Global risk assets have benefited from softer comments by US Fed chair Jerome Powell, but a firmer rand weighs on rand hedges
11 July 2019 - 10:22
The JSE pushed higher on Thursday morning, taking its lead from a firmer rand, which was benefiting banks, but putting pressure on rand hedges.
The local currency had pushed to a three-month high against the dollar, boosted by dovish testimony from US Federal Reserve chair Jerome Powell. Markets are pricing in increased chances of a 50 basis points cut at the Fed's July meeting, offering the prospect of increased liquidity on global markets...
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