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 Fed
On Thursday, the evergreen buck soared in Asia because the major US bank took the anticipated move of paring back its balance sheet. Additionally, the bank kept its outlook for rate lifts.
The currency pair USD/JPY hit 112.41, ascending 0.16%, AUD/USD reached 0.8001, declining 0.37%. As for NZD/USD, this currency pair went down 0.41% being worth 0.7327.
Meanwhile, the Bank of Japan held policy intact exactly as anticipated, following Thursday’s conclusion of its two-day gathering, with an asset buying program stuck to the yield curve at Y80 trillion every year.
Tracking the greenback’s actual value versus a trade-weighted basket of six crucial currencies, the US dollar index inched up 0.12% being worth 92.33.
New Zealand posted that second quarter GDP bang-on with expectations ascended 0.8% on month, also demonstrating a 2.5% annual soar.
Previously the US currency was under pressure because sales of previously owned homes in America suddenly went down in August because tight supply kept weighing on housing activity.
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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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