ZAR: an intriguing speech
The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
Greenback soars in Asia
On Thursday, the evergreen buck rallied versus the Japanese yen in Asia. The common currency went down as the Reserve Bank of New Zealand didn’t change its 1.75% rate.
The currency pair USD/JPY hit 112.91, ascending 0.06%. AUD/USD reached 0.7826, sliding 0.29%. As for EUR/USD, this currency pair showed 1.1740, slumping 0.06%.
The RBNZ left its rate intact and also called for a weaker currency. Apparently, a lower New Zealand dollar would lift tradable inflation and ensure more balanced surge, as some financial experts state.
The decision emerged several days after an inconclusive national election, which left the country unaware of which parties would make its next government.
The currency pair NZD/USD showed an outcome of $0.7199, being nearly intact.
The US dollar index, gauging the US currency’s value against a basket of six key currencies, gained 0.08% showing 93.34.
The greenback’s firm gain put pressure on both the euro and pound because both currencies gave up some of their recent revenues versus the US currency.
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ZAR: an intriguing speech
The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
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The assets wrap: the best, the worst, and the most volatile
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
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