Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/onlinesh/public_html/freemoneyforum.net/Sources/Load.php(225) : runtime-created function on line 3

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/onlinesh/public_html/freemoneyforum.net/Sources/Load.php(225) : runtime-created function on line 3
South African rand hits 5-month low
  Freemoneyforum.net Welcome, Guest. Please login or register.
Did you miss your activation email?
August 19, 2019, 05:22:28 AM
Home Help Search Login Register

Trading Forex Crypto MBC Nymex EXNESS
Trading Crypto currencies CFD 24/7 EXNESS
Binary option Crypto currencies 24/7 Olymptrade
InstaForex - the best broker in Asia InstaForex

+  MAKE MONEY ONLINE || FreeMoneyForum.Net
|-+  Online earnning
| |-+  Forex
| | |-+  South African rand hits 5-month low
« previous next »
Pages: [1] Print
Author Topic: South African rand hits 5-month low  (Read 201 times)
susanaP
Newbie
*
Posts: 18


View Profile Email
« on: May 21, 2018, 10:05:50 PM »

South Africa's rand was weaker in late afternoon trade Monday after the greenback firmed to a five-month high as worries about a U.S.-China trade war eased.

The relief lifted sentiment on industrial metal mining companies, helping the benchmark stock index notch up modest gains.

At 1504 GMT, the rand ZAR=D3 traded at 12.7800 versus the dollar, a 0.89 percent recovery from the year's lows of 12.8950 earlier in the session.

The dollar hit a fresh five-month high on U.S. Treasury Secretary Steven Mnuchin's declaration the feared U.S.-China trade war was "on hold" following their agreement to suspend the tariff threats. stronger dollar also weakened South African bonds, sending yields on the benchmark 2026 ZAR186= note 5 basis points higher to 8.67 percent.

"We see a steady decline in South African bonds which are being sold off at the moment, with people rushing back to U.S. yields," said Wichard Cilliers, currency dealer at TreasuryONE.

"It is all to do with the dollar and emerging markets under pressure. I don't think it will have a long-term impact at this stage."

On the bourse, the blue-chip JSE Top-40 index .JTOPI edged up 0.04 percent to 51,310 and the broader All-share index .JALSH was 0.03 percent in the black at 57,821.

Boosted by higher prices for metals such as copper, which rose to a one-week high, mining heavyweights Anglo American (LON:AAL) AGLJ.J and BHP Billiton (LON:BLT) BILJ.J both gained nearly 2 percent.

Logged
Pages: [1] Print 
« previous next »
Jump to:  


Login with username, password and session length

Powered by MySQL Powered by PHP Powered by SMF 1.1.11 | SMF © 2006-2008, Simple Machines LLC Valid XHTML 1.0! Valid CSS!
Page created in 0.029 seconds with 19 queries.