South Africa's rand softened on Wednesday, ahead of the closely watched minutes from the Federal Reserve's September meeting.
At 1554 GMT, the rand traded at 17.6425 against the dollar
USDZAR
, about 0.3% weaker than its previous close.
The dollar index
DXY
last traded up about 0.3% against a basket of currencies.
"Dollar strength of late can be attributed to stronger economic data out of the region which is dimming the outlook of further outsized rate cuts this year in the world's largest economy," said Shaun Murison, senior market analyst at IG.
At 1554 GMT, the rand traded at 17.6425 against the dollar
USDZAR
, about 0.3% weaker than its previous close.
The dollar index
DXY
last traded up about 0.3% against a basket of currencies.
"Dollar strength of late can be attributed to stronger economic data out of the region which is dimming the outlook of further outsized rate cuts this year in the world's largest economy," said Shaun Murison, senior market analyst at IG.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.