South African Rand Futures Market News and Commentary
The dollar index (DXY00) on Monday fell by -0.157 (-0.16%). Dec euro-fx futures (E6Z9) closed up +0.0010 (+0.09%), and EUR/USD (^EURUSD) rose by +0.0016 (+0.15%). Dec yen futures (J6Z9) closed up by +0.0010 (+0.11%), and USD/JPY (^USDJPY) fell by -0.24 (-0.22%).
The dollar index moved lower Monday as weak stocks boosted the safe-haven demand for the yen while GBP/USD moved higher after the leader of the Brexit Party said he wanted to prevent a second Brexit referendum and would not contest seats held by the ruling Conservative Party in the Dec 12 UK general election. In addition, trade jitters were dovish for Fed policy and negative for the dollar.
Stocks retreated Monday on waning optimism about a US/China trade deal President Trump on Saturday said reports about how much the U.S. was ready to roll back tariffs on China were "incorrect."
GBP/USD rose +0.60% Monday to a 4-session high after Nigel Farage, leader of the Brexit Party, said on Monday that he won't c... Read more