The dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week.
The rand strengthened by more than 1% to R17.7609/$ on Friday morning. After hitting R19.31 in February this year, the rand reached a year-high of R17.62 at the end of last month.
Influential former New York Fed President Bill Dudley later said at a forum in Singapore "there's a strong case for 50."
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
