“Currency markets have traded in very narrow ranges in the Far East this morning as markets await news of the trade deal. The US is apparently contemplating lifting some of the trade tariffs which has seen the Dollar a touch firmer against the safe-haven currencies but largely unchanged against the majors this morning.
The Dollar is at 1.1126 against the Euro and 1.2881 against the Pound. The Rand is holding on to yesterday’s gains at 14.7900, driven by the bond rally yesterday in the wake of the Moody’s announcement on Friday.
Global equity markets are up on the risk-on sentiment and we had Wall Street touch record highs across the three indexes. The local All-Share index closed up 0.49% yesterday. Precious metals have kept to narrow ranges in quiet trade with Gold at $1 506.76.