The dollar has treaded water during the day, and we see the euro and pound up 0.54% for the day, while the Yen is slightly up as well. The impact of this has seen the dollar index dip further, quoted at 103.37. The 2yr Treasury Yield is slightly up this afternoon at 3.92%, but price action has been more stable today following the buyout of Swiss Bank Credit Suisse. Gold has been as volatile over the past week, with the price topping $2,000 earlier today before sentiment improved and the metal dropped to $1,970. US equities have opened up more positive than negative following this morning’s route on equities in the east, with the Nasdaq the only major index which is slightly down.
The rand has continued with the risk-off sentiment we have seen over the past few trading sessions, testing the R18.60 handle earlier. Since then, we have seen some dollar weakness creeping into the currency space, and other EM’s have benefited from this, but not the rand. Local issues have taken a back seat over the past week, but sentiment towards the rand is obviously yet to improve, and the rand’s disconnectedness therefore continues.
#ZAR #DollarIndex #Treasury #CreditSuisse
