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South Africa’s Rand Firm As Central Bank Keeps Interest Rates On Hold

South Africa’s Rand Firm As Central Bank Keeps Interest Rates On Hold

South Africa’s rand inched up in early trade on Friday after the Reserve Bank kept rates on hold, and despite a less dovish than expected policy statement from the central bank as well as a global retreat in other commodity-dependent currencies. At 0640 GMT, the rand had firmed 0.14 percent to 12.9075 per dollar, slightly […]

Yen Gains As Election Jitters Weigh On Stocks, Hit Mexican Peso

Yen Gains As Election Jitters Weigh On Stocks, Hit Mexican Peso

Investors are becoming more jittery amid a tightening race for the U.S. presidency, spurring demand for haven assets including the yen while weighing on stocks and Mexico’s peso. Egypt’s currency tumbled as the country switched to a freely floating exchange rate. The yen climbed to a one-month high, U.S. equity index futures fell and the […]

Brexit: Pound Plunges To 30-year Lows As EU Fears Bite Into Global Markets Again

Brexit: Pound Plunges To 30-year Lows As EU Fears Bite Into Global Markets Again

The pound sank to three-decade lows and Asian share markets fell on Wednesday as fears over Brexit and instability in the European Union returned with a vengeance. Sterling was again a major casualty, sinking under $1.30 in fast-moving trade. It hit its lowest since 1985 when it got down as deep as $1.2565. In wild […]