Rand trading in a range
There has been a fair amount of risk-premium built into the rand over the past few days, and After three straight sessions of rand selling, we look set to post a green day at the moment. The local currency traded in a relatively narrow 10-cent range for the day and looks intent to end the day close to the R17.60 handle.
The dollar marches on
The dollar has pushed forward against its major peers, trading 0.3% stronger against the euro and pound. We have Jerome Powell speaking tonight, and markets will be anticipating any hints from Jerome Powell on the Fed’s economic outlook. US equities are softer, while Treasury Yields are slightly up, as markets are slightly cautious ahead of his speech. Palladium has bounced back from this week’s lows and is trading 2.5% higher for the day at $1,645. Gold, platinum, and Copper are relatively mixed and haven’t moved much on the day.
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