Rand steady as markets bet on US rate cuts
The US Federal Reserve has played down the chance of an aggressive interest-rate cutting cycle, but traders are unconvinced
22 August 2019 - 10:22
The rand was steady on Thursday afternoon, holding on to the 1.17% gain against the dollar it registered on Wednesday, with the market still pricing in a series of interest rate cuts by the US Federal Reserve.
Markets remain in wait-and-see mode ahead of the Jackson Hole conference on Friday, where Fed chair Jerome Powell is widely expected to either justify market expectations that two more Fed cuts are on their way, or disappoint them...
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