SA RAND ADJUSTS IN ANTICIPATION OF FEDERAL RESERVE INTEREST RATE
South Africa’s rand showed minimal movement early on Wednesday, with an impending interest rate decision by the Federal Reserve
South Africa’s rand showed minimal movement early on Wednesday, with an impending interest rate decision by the Federal Reserve influencing market sentiments. As of 0732 GMT, the rand was trading at 18.7800 against the dollar, closely aligned with its previous close at 18.7850. The dollar index exhibited a 0.2% increase against a basket of currencies.
Anticipation surrounds the Federal Reserve’s decision, widely expected to maintain current interest rates. Investors keenly await signals that could hint at potential future rate adjustments. South African investors are also directing their focus towards the release of December trade balance data scheduled for 1200 GMT.
In the stock market, both the Top-40 (.JTOPI) and the broader all-share (.JALSH) indices experienced a 0.4% decline in early trading. Meanwhile, South Africa’s benchmark 2030 government bond displayed weakness in early deals, witnessing a 2.5 basis points increase in yield, reaching 9.805%.
Quest :Emmanuel kelvin