JOHANNESBURG, July 10 (Reuters) – The South African rand gained on Wednesday against a weaker dollar, as focus remains on the future interest rate path of the world’s biggest economy.
At 1508 GMT, the rand traded at 18.12 against the dollar , 0.14% stronger than its previous close.
The dollar index last traded around 0.08% weaker against a basket of other major currencies.
U.S. inflation has been improving in recent months and though Federal Reserve Chair Jerome Powell was less dovish than expected in remarks on Tuesday, he said that “more good data would strengthen” the case for central bank interest rate cuts.
Source: REUTER
