Rand rebounds as focus shifts to US Fed
The rand is the best-performing emerging-market currency in the past month, as expectations of global monetary policy easing lifts risk appetite
18 September 2019 - 10:47
The rand was firmer against the dollar on Wednesday as consumer inflation came in above economists' expectations, making it even less likely that the Reserve Bank will surprise markets with an interest rate cut on Thursday.
SA's currency was also supported as focus shifted to the US Federal Reserve's monetary policy decision later on Wednesday, with a 25-basis point cut in the Fed's target rate widely anticipated. Looser policy overseas supports demand for higher-yielding assets denominated in the rand. ..
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