Rand remains flat as market waits for US Fed

The rand was little changed on Wednesday morning against major global currencies, as markets waited for direction.

This could come from the US Federal Reserve, which is set to announce its stance on monetary policy after local markets close. The Fed is not expected to change interest rates, but its forward guidance will be closely scrutinised. The dollar has weakened over the past 10 days due to market expectations of a dovish stance by the bank, said London Capital Group analyst Jasper Lawler.

At 10.01am the rand was flat at R14.4814/$ and R16.4402/€, while it had firmed 0.29% to R19.1773/£. The euro was little changed at $1.35. There is also some local data to give the market direction on Thursday. Consumer inflation for February came in as expected, rising 4.4% year on year in that month.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

US manufacturing sinks again in February: Fed - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.US manufacturing dropped sharply for the second consecutive month in February with across-the-board declines in nearly every category of product, the Federal Reserve reported Friday.
Sumber: SABC News Online - 🏆 32. / 51 Baca lebih lajut »

Rand mixed as market bets a no-deal Brexit will be avoidedThe pound brushed off a major defeat for UK Prime Minister Theresa May on Tuesday
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »