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.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: SABC News Online - 🏆 32. / 51 Read more »

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
Source: BDliveSA - 🏆 12. / 63 Read more »