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South African rand

South African rand gains sharply on Fed chair comments

South African rand gains sharply on Fed chair comments

  • The prospect of ongoing support by the central bank of the world's largest economy is positive for emerging markets like South Africa.
  • The rand traded at 14.5750 against the dollar, almost 0.8% firmer than its previous close.
Published 23 Feb, 2021 09:13pm
Dollar weakens as market optimism lifts riskier currencies
Markets

Dollar weakens as market optimism lifts riskier currencies

  • The improved risk appetite was also reflected in equities, with European indexes rising after Japanese stocks surged to a more than 30-year high earlier in the day.
  • The dollar index slipped 0.1%, close to last week's low of 90.249 - a level unseen since Jan. 27.
Published 15 Feb, 2021 07:21pm
South African rand hits two-month low, Naspers lifts stocks
Markets

South African rand hits two-month low, Naspers lifts stocks

  • The rand was at 15.5800 versus the dollar, 1.86% weaker than its previous close, and trading at its weakest since Nov. 13.
  • A stronger US Dollar and a worsening COVID-19 situation in South Africa could see a break above resistance toward the November swing high at 15.7357.
Published 11 Jan, 2021 09:52pm
South African rand firmer as market awaits budget
Markets

South African rand firmer as market awaits budget

  • White House trade adviser Peter Navarro said his comments that the trade deal with China was "over" were taken out of context.
  • Given how the emergency budget has little fiscal space to manoeuvre, Mboweni is walking on the tightest of ropes.
Published 23 Jun, 2020 09:21pm