Currency: dollar and rand stable, pound up, euro down : Orishas-finance

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Currency: dollar and rand stable, pound up, euro down

26/01/2024

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Currency: dollar and rand stable, pound up, euro down

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At the end of this week, currencies are trading in a degraded order. While the dollar and the rand are stable, the pound sterling is rising and the euro is falling.

The US dollar was stable on Friday. Traders have been assessing the impact of very strong economic growth data on the Federal Reserve's rate trajectory and waiting for a key inflation indicator later in the week for more clues. The dollar index, which measures the greenback against a basket of major currencies, hovered around 103.53 during Asian hours after rising by around 0.2% overnight. The dollar has gained around 2% since the start of the year as market expectations have moderated somewhat from the end of last year

The South African rand remained stable in early trading on Friday.

At 0635 GMT, the rand traded at 18.8700 against the US dollar, about the same level as its previous close.

Pour sa part, l The pound sterling rose slightly against the dollar and the euro. Sterling was up 0.2% against the dollar, at $1.27295. The euro was down 0.1% to 85.31

pence.

Moreover, the euro has withdrawn into itself. Operators increased their bets on a rate hike in April after the Central Bank's last monetary policy meeting.

The euro was down $1.08385, but it remains above the six-week low of $1.08215 reached on Thursday.

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