The Rand and other currencies traded sideways for most of the day, with the Rand trading in a 10-cent range. We had a little flurry of activity after the PCE inflation release, but the action was quelled quickly as the number came out as expected (4.6%). The US dollar has been trading around the 1.1000 level for most of the day, and we believe markets will continue to trade in a sideways fashion, at least until the FOMC meeting next week. One thing to keep an eye on is the banking crisis in the US rearing its head again with rumours that First Republic Bank is in a little bit of strife. Another factor that could impact the Rand is the thin liquidity of Monday being a public holiday, but should no adverse events happen on the weekend, the status quo should remain.
#ZAR #Inflation #FinancialMarkets #FinancialPodcast #USBankingCrisis
