USD/ZAR hovers above recent 1 1/2-month low
The USD/ZAR currency pair traded not far from a 1 1/2-month low of 17.4708 on Monday ahead of a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskiy and European leaders
The USD/ZAR currency pair traded not far from a 1 1/2-month low of 17.4708 on Monday ahead of a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia.
The summit between US President Donald Trump and Russia’s President Vladimir Putin did not produce a breakthrough on a ceasefire.
Yet, Russia’s President has agreed to allow the US and Europe to provide Ukraine with robust security guarantees as part of an eventual deal to put an end to the military conflict.
Investor focus will also be on the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, later this week for more insight into monetary policy.
Rand traders will additionally be paying close attention to local CPI inflation figures, due on Wednesday, for clues over the health of Africa’s most industrialized economy.
The USD/ZAR currency pair was last up 0.12% on the day to trade at 17.6176.
The Rand has recently been underpinned by higher Gold prices.
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