South African Rand At New 2-week Low Against U.S. Dollar After Moody's Comments
26 October 2018 - 6:27PM
RTTF2
The South African Rand fell against the U.S. dollar in the
European session on Friday, after ratings agency Moody's assessed
that South Africa's mid-term budget projected a larger fiscal
deficit that is credit negative.
"The government's revised budget policy statement projects
larger fiscal deficits and higher government debt, amid slower
growth, a weaker rand and higher interest rates than expected in
February, a credit negative," Moody's said.
The rand fell following the statement, touching a new 2-week low
of 14.73. If the rand falls further, 16.00 is possibly seen as its
next support level. At Thursday's close, the pair was worth
14.62.
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Dec 2024 to Jan 2025
US Dollar vs ZAR (FX:USDZAR)
Forex Chart
From Jan 2024 to Jan 2025
