JOHANNESBURG - The South African currency was basically unchanged yesterday, in step with a steady USD, as currency traders sat on the side lines according to NKC Research.
Markets are awaiting a pivotal speech by Federal Reserve Chairman Jerome Powell later today at a meeting of central bankers in Jackson Hole. Following a less-dovish-than-expected US Fed minutes from the July 30 - 31 FOMC meeting, expectations are that Mr Powell will reiterate that the Fed has not entered a prolonged monetary easing cycle. At the close of local trade, the rand quoted 0.01 percent weaker at R15.23/$, after trading in a range of R15.14/$ - R15.27/$. The rand traded steady overnight. Expected range today R15.15/$ - R15.45/$.
South African bourse