Saturday, January 20, 2018
Rand and Peso lead strengthening currencies
At the Emerging Markets, currencies like USD/ZAR and USD/MXN deserve a separate attention. While South African Central Bank kept the interest range unchanged at 6.75% on past Thursday meeting, USD/ZAR hit fresh lows at 12.07200 level, first time since June 2015. Weekly decline of the pair was 1.65%, one of the most sharp and rapid weekly FX movements last week. Mexican Peso appreciation is related to rising WTI Crude Oil prices and U.S. President’s Donald Trump decision to postpone NAFTA discussions till summer elections in Mexico. USD/MXN lost 2.26% of its’ value past week, declining more than 400 points.
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