Rand falls 1% as dollar rebounds on hawkish Fed statement

The rand was faring slightly better against the pound than the euro or dollar on Friday, due to reports of serious Brexit negotiations.

“The potential for a deal to be announced any day brings with it an element of weekend risk for the pound, both to the upside and downside,” said Oanda analyst Craig Erlam.

At 2:30pm, the rand was 1.14% weaker to the dollar at R14.2903, 0.97% to the euro at R16.2122, and 0.78% to the pound at R18.6064. The euro was 0.16% weaker at $1.1345.

The bid on the benchmark R186 government 10-year note was at 9.19% from 9.13%.

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