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Dollar Remains Unstable Ahead of Biden’s Inauguration

Economists expect rates to be kept on hold for much longer.
The dollar has remained volatile ahead of the inauguration of US President-elect Joe Biden on Wednesday.

This has weakened slightly a basket of currencies in recent days -including the rand which has seen a slight decrease despite recording gains over the last two months.

South Africa’s rand also fell on Monday, in line with other emerging markets, as a spike in global coronavirus cases curbed appetite for risk-driven assets.

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This week investors will look to a slew of economic data- including the expected interest rate announcement by the Reserve Bank on Thursday.

Economists expect rates to be kept on hold for much longer.

Investors will also be looking for clues on the health of the domestic economy in the last quarter of 2020.

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