South Africa got ‘junk’ status from Moody’s
Moody’s downgraded the country to ‘junk’ status on Friday.
Greenback stands still as Fed leans on dovish side
On Thursday, the US dollar stood still at lower levels after losses overnight because the major US financial institution leaned on the dovish side.
As expected, the Fed increased its target rate by 25 basis points, though signaled only two more lifts in 2017.
The greenback index was off 0.01%, being worth 100.35, having dropped 1% overnight.
The FOMC pointed out that the pace of the economic revival justified gradual tightening.
Fed Chair Janet Yellen hinted that the major US bank would tolerate inflation above its 2% objective.
In its statement the Fed informed that its objective happens to be symmetric, stressing that 2% isn’t a ceiling for them at all.
The US dollar was off 0.31%, reaching 113.04 yen as Japan’s major bank kept its policy on hold, as expected.
The BOJ short-term key lending rate is intact at -0.1% and its objective for the 10-year bond yield is at zero.
The common currency euro hit the $1.07 mark, following the outcome of the Dutch elections.
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South Africa got ‘junk’ status from Moody’s
Moody’s downgraded the country to ‘junk’ status on Friday.
The US has joined the rest of the world in recession
The US economy has been hit hard by the coronavirus outbreak.
USD: waiting for the reaction of the US purchasing managers
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
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