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forex trading

Chinese state banks seen using FX swaps to absorb dollars, sources say
Markets

Chinese state banks seen using FX swaps to absorb dollars, sources say

  • The sources said the bank was seen conducting sell-buy swaps in the dollar-yuan pair, alongside its purchases of dollars from exporters and other corporate clients.
  • "The big bank has been buying quite huge amounts of one-year dollars in the swap market," said one source, speaking on condition of anonymity.
Published 16 Mar, 2021 08:05pm
South Africa's rand firms as focus turns to Fed meeting
Markets

South Africa's rand firms as focus turns to Fed meeting

  • The rand had earlier in the session struggled to make meaningful gains as scheduled power outages by state utility Eskom dragged into their sixth day and weighed on sentiment.
  • Eskom said on Monday that it aimed to get its power plant performance to "acceptable levels" by late 2021.
Updated 15 Mar, 2021 09:26pm
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
South Africa's rand slips in risk-off trade, stocks hit all-time high
Markets

South Africa's rand slips in risk-off trade, stocks hit all-time high

  • Rand was 0.46% weaker at 15.2400 per dollar, marking a third consecutive session of losses as investors took a more circumspect view of the pace of the global economic rebound.
  • The United States $1.9 trillion fiscal stimulus plans and the likelihood of developed market central banks keeping liquidity taps open.
Published 25 Jan, 2021 09:31pm