Currency Note Worldwide

US decision benefits South African rand and New Zealand dollar

By Ricky Bean September 21st, 2015

  • The South African rand strengthened against the US dollar and sterling on Friday, thanks to the US Federal Reserve’s decision to hold interest rates. Out this week are inflation data and an interest rate decision by the South African Bank Reserve Bank. Both are likely to impact the rand, and cause market fluctuations.
  • The New Zealand dollar gained some strength on Friday as the news that the US interest rates are likely on hold until December helped currencies which are commodity-driven. However, it weakened shortly afterwards, as the week’s disappointing growth data for New Zealand restrained demand for the currency. There was some brighter economic news for New Zealand, though, with the nation’s consumer confidence index increasing from 109.8 in August to 110.8 in September. Next week we look forward to imports, exports and trade balance data out of New Zealand, which have the potential to cause some movement in the market.

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