Currency: the rand weakens, the dollar rises : Orishas-finance

Version Française

Currency: the rand weakens, the dollar rises

05/01/2024

Source : ORISHAS FINANCE

Categories: Economy/Forex

imprimer

Currency: the rand weakens, the dollar rises

Enjoy a simplified experience

Find all the economic and financial information on our Orishas Direct application to download on Play Store

The currency ranking was mixed at the end of this week. While the South African Rand weakens, the dollar is poised to see its biggest weekly gain since May before non-farm employment figures were released

The South African rand weakened in early trading on Friday.

At 0711 GMT, the rand traded at 18.7225 against the dollar, 0.13% lower than its previous close.

For its part, the dollar rose on Friday, heading for its biggest weekly rise since May, as traders reduced expectations that US interest rates would be cut this year. The dollar was up 0.25% against a basket of currencies at 102.69, after touching a new three-week high. The index is up 1.3% for the week, its best performance since the week ending on May 15.

The euro fell by 0.24% to $1.0919, and is on track to record a 1.09% drop for the week, its biggest weekly drop since early December, and ending a series of three weeks of increases.

The yen, which is very sensitive to US bond yields, weakened by 0.37% to 145.14 per dollar, after touching a low of more than three weeks earlier in the session.

Provided by AWS Translate