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Foreign exchange market: the dollar on the defensive, the rand and the pound stable

10/02/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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While the dollar defended after a fall overnight, the South African rand and the pound are stable.

The dollar was down overnight from Thursday to Friday. He is on the defensive with investors being cautious ahead of next week's US inflation data. The Dollar Index was at 103.21, after falling to 102.63 during the previous session. It measures the American currency against the six major currencies.

For its part, the pound is stable, while the United Kingdom has avoided a recession without inspiring investors. The pound lost 0.13% to 1.2105 dollars and gained 0.13% to 88.49 pence per euro around 10:55 a.m. The yen rose 0.51% against the dollar to 130.92 yen and 0.77% against the euro to 140.25 yen.

For its part, the South African rand remains stable as markets react to the president's speech. It changed little on Friday. The rand traded at 17.7725 per dollar, close to its previous close of 17.7850, at 06:18 GMT.

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