Rand weakens as markets weigh up a possible Trump victory following shooting
The dollar held steady on Monday and cryptocurrencies jumped as investors weighed up what the attempted assassination of former US President Donald Trump might mean for his chances in the 2024 elections and the possible impact on markets.
"There's still a lot of ground to be covered between now and November and a lot of uncertainty about what the Federal Reserve will do in the coming months," Jane Foley, senior FX strategist at Rabobank, said. The euro was little changed at $1.0910 after earlier hitting its highest level since March at $1.0921, while sterling dipped 0.1% to $1.2979.
Tokyo was thought to have intervened in the market to prop up the battered Japanese currency last week in the wake of the cooler-than-expected U.S. inflation report, with Bank of Japan data suggesting that authorities may have spent up to 3.57 trillion yen to do so on Thursday.
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