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The South African Rand has recovered sharply over recent days as it shed that domestic risk premium built up last week amidst the civil disorder that swept much of the country.
Read more: South African Rand: Reasons for Hope
The Euro-to-Dollar exchange rate enters the new week with more work to do in order to draw a line under its June sell-off but with the market’s optimistic outlook for Federal Reserve (Fed) policy setting a high bar for further Dollar gains, the Euro could yet stabilise over the coming days.
Read more: Euro-Dollar Week Ahead Forecast: Looking to Stabilise as Dollar Mood Dominates
With weeks to go before the U.S. presidential election, former vice-president Joe Biden, the Democratic party’s nominee, is currently polling ahead of incumbent Republican president Donald Trump in key battleground states.
But seats in the senate are up for grabs too and should the Democrats snatch control of the senate they will control both the Executive and the Legislature.
This will have significant and far reaching implications for foreign exchange and financial markets from late-2020 onwards.
We look the pieces that must fall together for this particular scenario and present exclusive views from leading investment banks as to where the Dollar might go.
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