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forex market

Sterling rises above $1.40; long positions at one-year high

Sterling rises above $1.40; long positions at one-year high

  • Sterling reached its highest levels since April 2018 when it crossed $1.40 on Friday. It has risen 2.6% against the dollar in 2021 and its rapid gains have led to talk of a possible correction.
  • Some 17.6 million people, over a quarter of the 67 million population, have now received a first dose of a COVID-19 vaccine.
Published 22 Feb, 2021 05:47pm
South Africa's rand firmer on improving economy, global yield hunt
Markets

South Africa's rand firmer on improving economy, global yield hunt

  • Crucially, it was the first time since early January the unit broke below the 14.50 technical resistance mark seen as a buy-target by traders.
  • "This is not going to change until we either get a diabolical budget from Mboweni (unlikely) or there is a global black swan event which throws us a curve ball."
Published 15 Feb, 2021 09:16pm
Nigerian naira eases 1.75pc on spot market to 410.50 per dollar
Markets

Nigerian naira eases 1.75pc on spot market to 410.50 per dollar

  • The naira, which has been weakening on the over-the-counter spot and derivatives markets, dropped to a low of 403.29 naira on Thursday after reaching record intra-day lows since January.
  • The central bank did not agree with the need for additional exchange rate adjustment.
Published 12 Feb, 2021 06:05pm
Dollar rebound slows as FX markets hover near thresholds
Markets

Dollar rebound slows as FX markets hover near thresholds

  • The euro hung just above a two-month low of $1.20 as the yen spent a second day around 105.
  • The dollar is up 1.3% this year as investors look to a widening disparity between the strength of the US and European pandemic recoveries.
Published 03 Feb, 2021 09:44pm
South African rand firms as investors chase higher yields
Markets

South African rand firms as investors chase higher yields

  • South Africa has enjoyed slightly better bond investment inflows than other emerging markets, largely a function of the high yield on offer.
  • Sentiment has also been buoyed by South Africa receiving its first COVID-19 vaccines this week as it eases lockdown restrictions.
Published 03 Feb, 2021 09:12pm
Dollar drops in choppy trading, investors rebalance for month-end
Markets

Dollar drops in choppy trading, investors rebalance for month-end

  • There's such a tug of war right now between the longer-term momentum_and the shorter-term term phenomenon of maybe a dollar short squeeze.
  • The dollar index against a basket of currencies is up 0.50% this month after falling more than 6% last year. It was last down 0.22% on the day at 90.46.
Published 28 Jan, 2021 09:28pm
Sterling eases off recent highs as vaccine optimism fades
Markets

Sterling eases off recent highs as vaccine optimism fades

  • In this environment, everything is pointing towards refuge in the dollar, even if the moves are marginal in today's trading session.
  • The pound is not sheltered from this strong USD environment, despite the UK's aggressive rate of vaccine distribution, although it remains relatively robust against other G10 peers.
Published 28 Jan, 2021 08:58pm
Rebound in risk sentiment pulls sterling higher
Markets

Rebound in risk sentiment pulls sterling higher

*The pound fell in early trade after risk sentiment ebbed overnight in US and Asian markets. * sterling was up 0.3% against the dollar at $1.3720 and was also up 0.3% against the euro, at 88.60 pence.
Published 26 Jan, 2021 08:55pm
Russian rouble edges up on US stimulus hopes, rising oil
Markets

Russian rouble edges up on US stimulus hopes, rising oil

  • The rouble had pared early gains and was 0.2% stronger against the dollar at 73.57. It had gained 0.2% to trade at 89.12 versus the euro.
  • Yellen, at her confirmation hearing on Tuesday, said the benefits of a big stimulus package were greater than the expense of a higher debt burden.
Published 20 Jan, 2021 06:32pm