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Considering that there has been no rise in interest rates since September, these comments indicate to the market one of two things: the Fed finally determined where the neutral rate was or considered that a pause in tightening had become necessary, said BK Asset Management's currency exchange strategy, MD Kathy Lien. "It's likely to be the last because economic data is weakening."
The rand gained about 20 cents against the greenback in day-to-day trading. At 9:10, the rand was 0.31% firmer against the dollar at 13.7355 rand, 0.2% against the euro at 15.6292 and 0.25% against the pound at 17.6217 rand. The euro was 0.1% stronger against the dollar at 1.1378 dollar.
It is now expected that the focus will be on local producer inflation data, which is due to be released at 11:30 am local time. The meeting of US President Donald Trump with his Chinese counterpart Xi Jinping this weekend is likely to attract investors' attention.
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