On Friday, the South African rand weakened against the US dollar. The US Federal Reserve Chairman, Ben Bernanke, indicated that the US economy is far from operating at full strength and reiterated his commitment to record monetary easing. Moreover, data showed that industrial production in the US fell in January.

The yield on benchmark government bonds fell on Friday. The yield on the 2015 bond fell to 5.34%, while that for the longer-dated 2026 issue declined to 7.28%.

At 06:00 SAST, the US dollar is trading 0.1% higher against the South African rand at R8.8644, while the euro is trading 0.2% lower at R11.8142. At 06:00 SAST, the British pound is trading 0.2% lower against the South African rand at R13.7194.

The Japanese yen weakened against its major peers this morning. Meanwhile, the G20 global finance ministers and central bank governors refrained from directly criticising Japan on its aggressive monetary easing that has weakened its currency. On Friday, the euro weakened against most of the major currencies. Data showed that eurozone exports declined the most in five months in December. 

At 06:00 SAST, the euro slipped 0.2% against the US dollar to trade at $1.3328, while it has remained almost unchanged against the British pound at GBP0.8612.

Thank you Anchor Capital

Back Back to top

Forex Risk Warning