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MARKET WRAP: Rand firms as focus turns to Fed meeting

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Currency gains on rising likelihood of higher local rates after Stats SA reports worse-than-expected inflation data for February

The rand broke a five-day losing streak on Wednesday as investors digested worse-than-expected local inflation data, while the JSE closed firmer with markets focused on the outcome of the US Federal Reserve policy meeting.

SA annual consumer inflation rose for the first time in four months in February. The headline consumer price index rose at an annual rate of 7% in February, up from 6.9% in January and above the Bloomberg median estimate of 6.8%...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

Source: News Formal (newsformal.com)

 

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