Rand looks set for fourth week of gains in global risk-on trade
Global sentiment has been lifted as the US and China move to bring an end to the protracted trade war
13 September 2019 - 10:23
The rand was firmer against the dollar on Friday morning, looking set for its fourth week of gains, after stimulus efforts in the eurozone and hopes of a truce in the US-China trade war lifted sentiment this week.
The rand reached its best level in more than a month during the course of the week. Risk appetite improved as the markets were expecting the European Central Bank (ECB) to cut its key interest rate and introduce stimulus efforts. The bank cut its deposit rate by 10 basis points to -0.5% and announced quantitative easing at a monthly pace of €20bn from November 1...
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