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2014-10-09
Why is daily analysis of the Forex market so important?


Anything can happen..

Currencies

The yield on benchmark government bonds fell yesterday. The yield on 2015 bond dropped to 6.54% while that for the longer-dated 2026 issue declined to 8.16%.

At 06:00 SAST, the US dollar is trading 0.1% lower against the South African rand at R11.0338, while the euro is trading almost flat at R14.0625. At 06:00 SAST, the British pound has gained 0.1% against the South African rand to trade at R17.8625.

Yesterday, the euro advanced against most of the major currencies. With the BoE monetary policy meeting and a speech from the ECB President, Mario Draghi, scheduled later today, the South African rand is anticipated to witness some volatility against the British pound and the euro.

At 06:00 SAST, the euro has advanced 0.1% against the US dollar to trade at $1.2745, while it has weakened slightly against the British pound to trade at GBP0.7873.


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