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Exchange: rise in currencies

18/07/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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This Friday, the US dollar is expected to rise weekly, while the Australian and New Zealand dollars are rebounding. The South African rand and the South African stock exchange are

growing.

The dollar headed for a second consecutive weekly rise against its main competitors, supported by solid American economic data that supported the idea that the Federal Reserve can afford to wait a bit longer before reducing the interest rate. The dollar index, which measures the currency against six major counterparts, remained stable at 98.456 at 00:38 GMT, keeping it on track for a weekly increase of 0.64% and building on the 0.91% rally the previous week. The dollar index climbed to 98.951 on Thursday for the first time since June 23 after U.S. data showed that retail sales rebounded more than expected in June and the first unemployment claims fell to their lowest level in three months last week

.

Les Australian and New Zealand dollars picked up steam on Friday, while their American counterparts saw new sales, but both suffered losses this week as markets increased their bets on rate cuts in their countries. Aussie rose 0.3 percent to $0.6505, after reaching a three-week low of $0.6454 overnight. The New Zealand dollar rebounded 0.4% to $0.5955 after reaching a low of $0.5906 overnight. It lost 0.9% for the week, further away from its nine-month high of $0.6120 reached on July

1.

The South African rand and stocks were up on Friday as investors focused their attention on the final day of the G20 financial summit, organized for the first time by an African country. South Africa hopes to conclude this two-day meeting with the publication of an official statement.

At 11:05 GMT, the rand traded at 17.7050 per US dollar, up about 0.6% from the close on Thursday.

The Top-40 Index on the Johannesburg Stock Exchange increased by 1.4% during the last listing.

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