Turkey rate increase unlikely to benefit Lira, Rand higher after FOMC statement

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The South African Rand is showing some indications of recovery against the US Dollar in the aftermath of the latest FOMC statement. The Rand is up by 0.5% at time of writing with the Greenback also slipping lower against the Euro, British Pound, Yen and Aussie Dollar. External factors like demand for the Dollar is dictating the majority of swings in the global currency markets, explaining why the Dollar unexpectedly making a turnaround over the previous fortnight has resulted in the Rand moving back to levels not seen since December 2017. If the Dollar did encounter another reversal and… Read More

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