The USD/ZAR currency pair hovered just above a fresh 5-month low of 17.9760 on Tuesday ahead of a planned meeting between President Cyril Ramaphosa and US President Donald Trump in Washington.The Sout
USD/ZAR hovers above 5-month low ahead of Trump meeting
The USD/ZAR currency pair hovered just above a fresh 5-month low of 17.9760 on Tuesday ahead of a planned meeting between President Cyril Ramaphosa and US President Donald Trump in Washington.
The South African delegation arrived in the US yesterday to hold talks with the Trump administration, seeking to renew strained ties between the two countries.
The meeting between the two heads of state will take place on Wednesday.
In the meantime, Finance Minister Enoch Godongwana is to make his third attempt to pass a budget in parliament on Wednesday, since disputes with coalition partners over value-added tax raise plans overcame two prior attempts.
Rand traders will also be paying attention to South African CPI inflation and retail sales data prints.
In addition, several Federal Reserve officials are expected to make speeches later in the day, with investors looking for more insight into macroeconomic conditions and the Fed’s future policy trajectory.
The USD/ZAR currency pair was last down 0.26% on the day to trade at 18.0394.
Best Exchanges
Open a Demo Account and Hone Your Trading Skills
A World-Class Trading Experience
Low Spreads. Safe Trades.Trade confidently with FBS: superior conditions and exceptional security standards.
Manchester United's Official Online Financial Trading Platform Partner
One of the best brokers for low spreads, trading conditions and execution
Get VIP treatment with ZERO spreads (for 90%+ of the trading day) + low commission (max 3.5 USD per lot per side) MT4/MT5
Brokers News
