Prospect of US rate cut boosts rand
The recent weak US data has supported the local currency due to the rising expectation that the Federal Reserve will cut rates
04 October 2019 - 09:37
The rand was steady against major global currencies on Friday morning, receiving support from weak US economic data, which has fuelled the hope that the US Federal Reserve will soon cut interest rates.
That rand had risen 0.87% against the dollar on Thursday, as the greenback came under pressure from weaker-than-expected US services data...
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