US Fed chair Jerome Powell signaled that US rates are likely to remain low for a prolonged period
28 August 2020 – 14:36
The rand was having its best day in more than three months on Friday as investors digested dovish signs from the US Federal Reserve.
At 2.02pm, the rand had firmed 2.13% to R16.6845/$, 1.25% to R19.8779/€ and 1.20% to R22.2204/£. The euro had strengthened 0.81% to $1.1943. The rand reached an intra-day best of R16.66, its best level in four weeks.