| USD
The US Dollar index found some reprieve on Friday, reversing all of its previous day’s losses on the day, aided by increasing US 10-year T bond yields, along with safe-haven demand. Despite disappointing retail and manufacturing economic data print, the dollar ended the session firmer at 95.165 after testing a high of 95.266. EUR The euro found itself on the back foot, as rising yields lifted the dollar, with the ECB President, Christine Lagarde’s comments about policy accommodation also weighing on the single. The euro tested a high of $1.1482 before taking a nosedive to end the session weaker at $1.1413. GBP The cable fell victim to a stronger dollar, despite positive UK economic data on Friday, which failed to save the day. The potential of Prime Minister Boris Johnson possibly stepping down, as he’s rumored to have had gatherings during COVID-19 lockdowns, also weighed on the pound. The pound closed the session at $1.3684, after dipping to a low of $1.3654. ZAR The rand was seen tracking higher early in the session, gathering positive momentum, but came under pressure at the start of the US session as the dollar came in aggressively. Although the local unit managed to regain its composure, as risk sentiment rebounded to end the week marginally stronger. The local unit strengthened to a low of R15.2675/$, after trading to a high of R15.4440/$ and ultimately ending the session at R15.3650/$. There is no data on the cards locally, we expect the rand to be driven by global headlines. Expected ranges for the day:
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