JOHANNESBURG - The rand edged higher on Wednesday, extending gains into a fourth session, as the country looked likely to dodge a credit rating downgrade.
At 0600 GMT, the rand was 0.1% firmer at R14.6225 per dollar, it best level since 2 August, compared with a close of R14.6375 overnight. Bets that the European Central Bank will push interest rates even further into negative territory at its meeting on Thursday, and signs that the United States and China would go back to the negotiating table, also lifted risk demand.
Bonds were weaker in early trading, with the yield on the benchmark paper due in 2026 up 1.5 basis points to 8.145%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand firms as market pins hope on stimulusHopes that China will move to boost its economy and expectations of stimulus from the European Central Bank could support the rand this week
Source: BDliveSA - 🏆 12. / 63 Read more »
Stimulus hopes push rand to one-month highRisk assets are benefiting from expectations that China and Europe will take additional steps to boost flagging economic growth
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: ewnupdates - 🏆 30. / 53 Read more »
Stronger rand takes chunk out of Master Drilling’s profitThe drilling services provider’s interim revenue rose to end-June but profit fell with SA’s elections holding back investment decisions
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand firms as the hope of stimulus whets investors risk appetiteTreasuryOne’s Andre Botha says global currencies are drifting sideways as traders sit on their hands waiting for the Wednesday’s ECB meeting
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: BDliveSA - 🏆 12. / 63 Read more »