Currencies Update

Yesterday, the South African rand weakened against the US dollar. Data indicated that private companies in the US added more workers at a faster pace than expected in February.

The yield on benchmark government bonds fell yesterday. The yield on the 2015 bond fell to 5.30%, while that for the longer-dated 2026 issue declined to 7.29%.

At 06:00 SAST, the US dollar is trading 0.1% lower against the South African rand at R9.1178, while the euro is trading 0.1% higher at R11.8408. At 06:00 SAST, the British pound is trading 0.2% lower against the South African rand at R13.6757.

Today, the Japanese yen has strengthened against its major counterparts, after the Bank of Japan kept benchmark interest rate unchanged and upgraded its assessment of the economy. The Australian dollar is trading higher this morning despite data indicating that Australia’s trade deficit widened more-than-expected in January. The euro has strengthened against is major peers today, after the S&P's revised its outlook on Portugal's sovereign ratings to stable from negative. Markets await the policy meetings of the European Central Bank and the Bank of England later in the day.

At 06:00 SAST, the euro advanced 0.1% against the US dollar to trade at $1.2986, while it has gained 0.3% against the British pound to trade at GBP0.8659.

Thank you Anchor Capital

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