The rand maintained its firmer levels at midday on Monday‚ despite political risks and a possible US rate hike.
The Reserve Bank’s monetary policy committee will deliver its decision on interest rates on Thursday after a three-day meeting. The US Federal Reserve and Bank of Japan (BoJ) are also due to announce decisions on rates this week.
At 11.35am‚ the rand was at R14.0815 to the dollar from R14.2625 previously. It firmed to R14.03/$ in intraday trade.
It was at R15.7245 against the euro from R15.9070 and at R18.3633 against the pound from R18.5465.
The euro was at $1.1167 from $1.1153 previously.
TreasuryOne’s head of dealing‚ Wichard Cilliers‚ said the rand was holding firm in a week where many central banks were in the spotlight.
“This week‚ all trades will be focused on Wednesday’s release of the Federal open market committee rate decision as well as the press conference thereafter by US Federal Reserve chairwoman Janet Yellen‚” Cilliers said.
The rand shrugged off a stronger dollar at the end of last week. The greenback firmed on slightly higher US consumer price index (CPI) data released on Friday.
The rand ended the week 1.63% firmer against the dollar‚ trading in a range between R14.21 and R14.59. It gained 3.66% against the pound‚ braking decisively through the R18.50/£ level. – TMG Digital/BDlive
Rand poised to break through R14/$
The rand maintained its firmer levels at midday on Monday‚ despite political risks and a possible US rate hike.
The Reserve Bank’s monetary policy committee will deliver its decision on interest rates on Thursday after a three-day meeting. The US Federal Reserve and Bank of Japan (BoJ) are also due to announce decisions on rates this week.
At 11.35am‚ the rand was at R14.0815 to the dollar from R14.2625 previously. It firmed to R14.03/$ in intraday trade.
It was at R15.7245 against the euro from R15.9070 and at R18.3633 against the pound from R18.5465.
The euro was at $1.1167 from $1.1153 previously.
TreasuryOne’s head of dealing‚ Wichard Cilliers‚ said the rand was holding firm in a week where many central banks were in the spotlight.
“This week‚ all trades will be focused on Wednesday’s release of the Federal open market committee rate decision as well as the press conference thereafter by US Federal Reserve chairwoman Janet Yellen‚” Cilliers said.
The rand shrugged off a stronger dollar at the end of last week. The greenback firmed on slightly higher US consumer price index (CPI) data released on Friday.
The rand ended the week 1.63% firmer against the dollar‚ trading in a range between R14.21 and R14.59. It gained 3.66% against the pound‚ braking decisively through the R18.50/£ level. – TMG Digital/BDlive
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