South African rand slips as Powell signals modest rate cuts
Updates prices to reflect afternoon trade
JOHANNESBURG, Oct 1 (Reuters) -The South African rand weakened against a stronger dollar on Tuesday, after Federal Reserve Chair Jerome Powell poured cold water on bets of more big interest rate cuts.
At 1531 GMT, the rand traded at 17.4050 against the dollar ZAR=D3, 0.8% softer than its previous close.
Powell adopted a more hawkish tone in a speech at a conference on Monday, saying the U.S. central bank was likely to stick with 25 basis point interest rate cuts from now on, while U.S. data on Tuesday also showed a solid economy.
Reports of an imminent missile attack by Iran on Israel also drove safe haven demand.
The dollar index =USD was last up 0.4% against a basket of currencies.
Locally, a purchasing managers' index survey showed South African manufacturing activity rose in September, thanks to improved demand and a boost in sentiment from an interest rate cut by the country's central bank.
The rand is set to take cues from global drivers such as U.S. economic data releases this week, with slim pickings on the domestic front.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index .JTOPI closed little changed.
South Africa's benchmark 2030 government bond ZAR2030= was weaker, with the yield up 12 basis points to 8.965%.
Reporting by Tannur Anders and Bhargav Acharya
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
