South African rand rises as dollar slips, stocks fall



JOHANNESBURG, Nov 25 (Reuters) - South Africa's rand firmed slightly on Thursday, as the dollar slipped but still traded near a 16-month high after investors bet that the U.S. Federal Reserve will tighten monetary policy faster than its peers.

At 1500 GMT, the rand ZAR=D3 traded 0.2% firmer at 15.8600 against the dollar.

Fed minutes showed on Wednesday that various policymakers at the U.S. central bank would be open to speeding up the taper of their bond-buying programme and raising interest rates more quickly if high inflation held.

Dollar .DXY moves have been one of the main drivers for the rand in recent days, along with emerging market contagion linked to a meltdown in the Turkish lira TRY= .

On the domestic front, data showed producer inflation ZAPPIY=ECI quickened in October, providing more clues about price pressures in Africa's most industrialised economy.

Last week, the South African Reserve Bank raised rates for the first time in three years in response to broadening inflationary risks, but that has done little to buttress the rand, which is down roughly 4% against the dollar this month.

The yield on the government's benchmark 2030 bond ZAR2030= was down 3 basis points to 9.725%.

Shares on the Johannesburg Stock Exchange (JSE) slipped, though the fall was limited, despite strong global markets, as a new coronavirus variant discovered in South Africa spooked investors.

The daily tally of COVID-19 cases has started rising in the country, signalling the early phase of a fourth wave.

On Thursday, scientists said they had detected a new COVID-19 variant - called B.1.1.529 - in the country, which had a "very unusual constellation" of mutations. They called it concerning.

The stock market, which had been hovering around its all-time highs for past two weeks, shed early gains, with the blue-chip index of top 40 companies .JTOPI losing 0.17% to end at 64,063 points.

The benchmark all-share index .JALSH closed down 0.01% to 70,555 points.
Reporting by Alexander Winning, Olivia Kumwenda-Mtambo and Promit Mukherjee; Editing by Bernadette Baum

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明