South African Rand forecast page 12 - zar south african rand rand
A round up of the latest South African Rand forecast news items from the Currency News desk.
Euro weaker on Dexia rescue
30 Sep 2008 at 4 PM - Written by Admin
The euro was weaker versus the US dollar and the pound on Tuesday, with declines coming on the rescue of Belgian-French bank Dexia (Euronext, DEXB, DX; LuxSE: DXB).France and Belgium will give Dexia around $9.2 billion after its shares dropped by a record 28.5 percent on Monday.The greenback, meanwhile, was helped by sentiment that...
Yen weaker on Fed offer, Buffett deal with Goldman Sachs
24 Sep 2008 at 5 PM - Written by Admin
The Japanese yen was weaker Wednesday versus the euro and the dollar after investor interest in risky currency trades returned on a move by the US Federal Reserve to make more cash available to some central banks in order to stimulate lending and after Berkshire Hathaway (NYSE: BRK.A, BRK.B), Warren Buffett's holding company, said it will...
USD stronger after big decline
23 Sep 2008 at 4 PM - Written by Admin
The US dollar gained on the euro on Tuesday in late morning trade in New York as investors decided that Mondayâ€™s 2.1 percent decline for the greenback against the shared currency was too big to hold.The dollarâ€™s fall Monday came on concerns that the US plan to spend up to $700 billion buying bad debts from banks will send...
USD lower on deficit concerns
22 Sep 2008 at 4 PM - Written by Admin
The US dollar was weaker Monday on fears that the governmentâ€™s plan to buy $700 in bad debt from banks will increase the nationâ€™s already-soaring deficit.Some forecasts have the debt ceiling reaching as high as $11.315 trillon due to the plan.The greenback was also hurt by predictions that new data due later in the week...
USD declines against emerging market currencies
19 Sep 2008 at 4 PM - Written by Admin
Currency moves Friday were driven by plans and anticipation of more plans by the US to rush legislation through Congress that is designed to shore up confidence in the financial markets.Among the plans announced was one from the US Treasury Department to use up to $50 billion from the Exchange Stabilization Fund, a fund first created in...
Pound weaker on King letter to Exchequer
16 Sep 2008 at 5 PM - Written by Admin
The pound weakened Tuesday after the Mervyn King, the governor of the Bank of England, said that inflation in the UK will peak soon and then slow down in 2009.The remarks, which came in a letter to the Chancellor of the Exchequer explaining why the rate of inflation has exceeded government targets by more than one percent for three...
Yen, Swiss franc lose ground
8 Sep 2008 at 4 PM - Written by Admin
The Japanese yen declined versus the US dollar, the yen, and other currencies Monday as substantial gains in equities markets encouraged investor to purchase higher-yielding currencies in deals financed by low-yielding currencies such as the yen and the Swiss franc.The gains in global markets came on relief that the US government moved,...
Euro weaker on data
3 Sep 2008 at 4 PM - Written by Admin
The euro weakened versus the US dollar Wednesday after new data showed that business investment and retail sales in the Eurozone both declined in July, while the yen saw gains as investors once again backed away from risky currency trades.According to the new numbers, business investment in the Eurozone dropped by 1.2 percent while...
Euro strengthens again
28 Aug 2008 at 4 PM - Written by Admin
The euro strengthened versus the US dollar and the pound again on Thursday as crude oil prices continued to rise on worries about where Tropical Storm Gustav will go as it strengthened again to near-hurricane force.Gains for the euro was also helped by speculation that the rising oil prices will fuel inflation and force the European...
Yen, Swiss franc advance on credit concerns
25 Aug 2008 at 5 PM - Written by Admin
The Japanese yen and the Swiss franc were both stronger Monday on another retreat from risky carry trades, in which purchases of higher-yielding currencies are financed with lower-yielding currencies such as the yen and the franc, as concerns about losses due to the credit crisis continue.These worries were fed by the possibility that...
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