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Exchange: Most currencies in the green

06/09/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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Ce vendredi, le yuan chinois, le rand sud-africain et la The pound sterling remained stable, while the Ugandan shilling strengthened.

The Chinese yuan remained stable on Friday, with expectations of easing offsetting the positive impact of a weaker dollar. The stock changed hands at around 7.090 per dollar at noon, barely budging from the previous day's close. The Chinese

yuan appreciated against the dollar.

For its part, the South African rand was stable in early trading on Friday, with markets turning to US employment data for clues about the extent of the expected fall in interest rates by the Federal Reserve this month. At 07:15 GMT, the rand was trading at its Thursday closing level of 17.70 against the dollar. According to Andre Cilliers, currency strategist at TreasuryOne, “the markets remain on the alert as traders await key data on non-farm jobs and unemployment in the United States, which should dictate the Fed's next monetary policy decisions

.”

La livre sterling se maintient alors que l' inertie des données sur l' emploi s' empare des marchés. The British pound stalled on Friday, ahead of the employment data am& that could intensify volatility later today as investors question whether the Federal Reserve will be forced to make a major cut in interest rates this month or not. The currency, which is heading for a rise of 0.3% against the dollar this week, was trading at $1.3169, down 0.1% on the day. It hit its highest level in a week at $1.31925 earlier in the

day.

In addition, the Ugandan shilling strengthened slightly on Friday, helped by dollar inflows from agricultural exporters who weighed against weak demand from importers, traders said. the Ugandan shilling is generally stable, but is expected to fall due to foreign currency demand from importers.

At 09:22 GMT, commercial banks quoted the shilling at 3,710/3,720 compared to 3,716/3,726 at the close on Thursday.
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