Rand stable below R14/$ as greenback wobbles on dovish Fed
The rand was stable below R14/$ on Monday afternoon, bolstered by a weaker dollar environment.
The greenback came under pressure following dovish commentary by US Federal Reserve vice-chair Richard Clarida on Friday, who warned that slowing global growth could derail plans for interest-rate increases in 2019.
The dovish tone took the market by surprise as it was the first unambiguous acknowledgement by a Fed official that growth may have peaked, BK Asset Management’s Boris Schlossberg said.
Trade is expected to be somewhat subdued this week, ahead of the Thanksgiving Day holiday in the US on Thursday.
Read more article on Times Live News
Comments