Rand finding resistance at R13.88/$ as market eyes US data
Focus on Tuesday is on US retail sales data amid market speculation about the scope and pace of US Federal Reserve interest rate cuts
16 July 2019 - 08:59
The rand was marginally firmer against major global currencies on Tuesday morning, finding resistance at R13.88/$, as markets waited for data that could give clues as to the US Federal Reserve’s future monetary policy.
The prospect of interest rate cuts in the US has bolstered the rand and other emerging-market currencies recently, with markets pricing in a 100% chance of a 25 basis point cut at the Fed’s meeting on July 31...
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