JOHANNESBURG - The rand firmed on Friday, ending the first week of the new quarter more than 2% firmer as slow wage growth in the United States helped maintain demand for emerging currencies.The currency rallied as far as 14.0200, its best since Feb. 28, shortly after employment data from the US showed that while jobs increased by 196,000 wage growth had slowed, pushing the dollar lower.
The rand’s run towards 14.00 could unlock further gains, analysts said, with the cluster of stop-loss triggers around the level adding momentum to the rally before an expected spike in volatility as 8 May national elections approach.
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE and rand rally ahead of Moody’s decisionJSE heavyweight Naspers was 0.85% higher at R3,332.14 after reaching its best level in about seven months earlier in the day
Source: TimesLIVE - 🏆 28. / 59 Read more »
#RandReport: Rand, stocks edge higher ahead of Moody's reviewStocks strengthened, led by banks and retailers on expectations Moody’s would not downgrade its Baa3 rating on South Africa.
Source: ewnupdates - 🏆 30. / 53 Read more »