CD South Africa: Rand strengthens on yuan “stability”
Currencies Direct August 13th 2015 - < 1 minute read
The rand strengthened slightly overnight as the yuan devalued for the third day in a row, albeit at a slower pace. The market is waiting to see if the intentions of the Chinese government are for major devaluation, in order to boost growth, or if it is just looking for a happy medium. On the data calendar, US retail sales out today (14:30pm) will be an important indication as to whether the US Federal Reserve will look to raise interest rates this year. Have a great day!
Commentary by Chris Williams
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Currencies Direct