The local unit surrendered previous session gains as souring risk sentiment swept through global markets, worsened by abysmal mining production readings on domestic soil according NKC Research. busrep
JOHANNESBURG - The local unit surrendered previous session gains as souring risk sentiment swept through global markets, worsened by abysmal mining production readings on domestic soil according NKC Research.
Investors dumped riskier currencies after the FOMC, on Wednesday, reaffirmed its dovish forward guidance but refrained from offering any specific date- or data-contingent forward guidance. The policy rate will likely remain pegged near zero past 2022, open-ended and flexible QE will continue, and the Fed stands ready to lend via its emergency facilities. At the close of local trade, the rand quoted 1.8 percent weaker at R17.04/$, after trading in the range of R16.49/$ - R17.08/$.
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