South African rand rises after U.S. data fuels Fed rate cut bets
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South Africa's rand strengthened to 17.4575 against the dollar on Oct 11, 2024, up 0.4% after U.S. inflation data raised bets for a Federal Reserve rate cut next month. Jobless claims increased, leading to moderated expectations for larger cuts. Adam Phillips from Umkhulu Treasury noted that jobless claims helped the rand recover. The local focus is now on an inflation-linked bond auction scheduled for later that day, which Andre Cilliers from TreasuryONE indicated will provide insights into inflation expectations. The Top-40 index rose 0.4%, and the yield on South Africa's 2030 government bond fell 7 basis points to 9.07%.

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https://www.cnbcafrica.com/2024/south-african-rand-rises-after-u-s-data-fuels-fed-rate-cut-bets/