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Currency: The South African rand has strengthened and the dollar reduces its losses

04/04/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Dans les premiers échanges de ce mardi, le rand South Africa has strengthened. The dollar, on the other hand, erased some of its losses when data showed that U.S. manufacturing activity fell last month.

The rand traded at 17.7925 against the dollar, 0.1% stronger than its previous close at 06:43 GMT. It should again draw inspiration from global drivers, as no local economic data is expected on Tuesday. For its part, the Dollar Index, which measures the safe haven currency against six major rivals, was in last position, up 0.05% to 102.08. It fell after the Institute for Supply Management (ISM) survey showed on Monday that U.S. manufacturing activity fell to its lowest level in nearly three years in March.

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