Africa-Press – South-Africa. Further relief of currency pressures is a bonus for the region, which was already the big February winner in capital flows data. It drew in almost $12 billion for the best of any region, according to figures compiled by the Washington-based Institute of International Finance.
Policymakers from the US and Europe have sought to provide reassurances that the banking turmoil that erupted over the past two weeks can be contained. Fed Chair Jay Powell was the latest to maintain that tools are in place to handle any further dramas in the sector, and European Central Bank chief Christine Lagarde repeated Wednesday that officials can manage financial volatility without interrupting their inflation fight.
But US Treasuries rallied and equities sank in the wake of Powell’s remarks — including an assertion that rate cuts remained outside of the Fed’s base case for this year — while the dollar weakened for a sixth day, returning to its broad downward trajectory from a peak in September.
Additional information related to the movement of the rand .
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