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Forex News: South African Rand Rises To 4-day High Against

South African Rand Rises To 4-day High Against U.S. Dollar

03/10/2020 - 07:46:00 (RTTNews)

(RTTNews) - The South African Rand moved up against the U.S. dollar in the European session on Tuesday, amid expectations that governments will announce stimulus measures to combat the global coronavirus outbreak.

U.S. President Donald Trump's economic stimulus plan also eased some of the worries about the growth outlook.

Trump said he will meet with Senate and House Republicans later today to discuss a possible payroll tax cut or "substantial relief" to offset the economic impact of the coronavirus outbreak.

The South African Rand hit a 4-day high of 15.75 against the greenback, from Monday's closing value of 16.08. Next key resistance for the South African Rand is seen around the 14.00 level.

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