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CD South Africa: Rand needs new data to drive strength

The rand rally seems to be coming to an end as markets move on from last month's weak US non-farm payrolls figure. The local unit did not do enough to break the 13.25/$ level yesterday.

CD South Africa: Rand needs new data to drive strength

Sterling boosted ahead of inflation numbers

UK inflation has just dipped into negative territory – this is only the second time since 1960. If you’re thinking of buying or selling pounds today, you’ll need to get your timing right. Already this morning, the pound has lost almost one cent against the US dollar.

CD South Africa: Rand gains as risk on

Rand gains continued as fears of a formidable US Federal Reserve interest rate rise have been banished to a later date.

US Fed sets tone as data takes a holiday (video)

The New York Fed’s William Dudley suggested that job growth should normalise at around 100,000 a month, and his comments have pulled rate rise expectations back towards December’s meeting.

US Fed opts for prudence

In the US, the Federal Open Market Committee’s (FOMC’s) meeting minutes revealed the logic behind the decision to keep interest rates on hold at its September meeting.

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