Rand improves against dollar as US Fed cuts interest rate
The SA Reserve Bank is also set to announce its interest rate decision on Thursday
The rand was firmer on Thursday morning after the US Federal Reserve cut its interest rate on Wednesday, preserving the yield advantage of holding SA assets.
The Fed cut its interest rate by 25 basis points, in line with market expectations, with chair Jerome Powell saying the latest cut was to offset current risks including global weak economic growth and trade tensions. The division among Fed policymakers did, however, lower expectations that it would aggressively cut rates in the future.