News Formal

Rand, stocks slip as dollar bounces back

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

At 1515 GMT the rand was 0.16% weaker at 13.8800 per dollar compared to its close of 13.8575 overnight in New York.

JOHANNESBURG - The rand edged weaker on Tuesday, losing momentum as the dollar surged and the appeal of the local currency waned after the International Monetary Fund cut its growth forecast for Africa’s most industrialised economy.

Globally, the IMF expects GDP to grow 3.2%, while economic growth in sub-Saharan Africa is seen at 3.4%. Bonds also weakened, with the yield on the benchmark 2026 government issue up 4 basis points to 8.07%. Markets are focusing on the European Central Bank , which is expected to cut a key rate by 10 basis points on Thursday, and next week the Federal Reserve is forecast to cut its benchmark rate by 25 basis points.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 30. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Send Dollar to jail. TheQueenMzansi

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Rand near 11-month high to the pound as market eyes new UK prime ministerDetails on Eskom’s bailout will be watched by markets, while an eye is also on the UK, which is set to get a new leader soon
Källa: BDliveSA - 🏆 12. / 63 Läs mer »