Home / News / Financial / Dollar strenght...


Date: 2017-10-10
News, Finance, Newsfeeds24, Rand, Dollar, Financial,Rand Merchant Bank,

The rand was weaker against the dollar on Monday 09 October just before midday as currency markets traded steadily, with US markets closed for a holiday.The dollar has, however, maintained its strength, supported by an optimistic economic recovery in the US, which has put pressure on emerging-market currencies.

The dollar, which has been on a rally, still managed to retain its strength despite Friday’s worse than expected payrolls data, which came in short 33,000 jobs from an expected 80,000 jobs.

Rand Merchant Bank analyst John Cairns said while the payrolls data could have been confusing, the confidence created by US Federal Reserve members on hiking interest rates seemed to be increasing.

"Fed speakers, throughout last week, affirmed that most voting members are behind a December hike," he said.

Markets will look to the minutes from the September Fed meeting on Wednesday, 11 October, and US consumer inflation and retail sales data on Friday, 13 October, for more direction.

At 11.30am‚ the rand was at R13.7927 to the dollar from R13.7551, at R16.1940 to the euro from R16.1399 and at R18.1153 to the pound from R18.0264.

Article Tags: Rand Merchant Bank Financial Dollar Rand Newsfeeds24 Finance News


You may also enjoy...

Court  Crime  Newsfeed24.com  News  South Africa  Durban  Murder Siam Lee Murder

The brutal murder accused of Siam Lee granted R40 000 bail...

10 hours ago

Newsfeeds24.com Newsfeeds24 News South Africa SuperSport Ashwin Willemse walk out SuperSport racism investigation Naas Botha Nick Mallet Ashwin Willemse racism

SuperSport investigation reveals no racism connected to Ashwin Willemse's walk out...

16 hours ago

Eskom  Load Shedding  News  Newsfeeds24.com Plant outages

Eskom says best start planning for the upcoming load shedding in SA...

15 hours ago

Newsfeeds24 Newsfeeds24.com News Uber Taxify Uber strike Taxify strike Zoo Lake Johannesburg zoo South Africa

Video: Uber and Taxify drivers threaten to shut Johannesburg down...

1 day ago

Premium Partners
Devmoco newsfeeds24Divicii newsfeeds24Loopascoop newsfeeds24

newsfeeds24.com © 2018