30 Jan 2014
Flash: South Africa and Turkey in focus - Danske Bank
FXstreet.com (Barcelona) - Anders Møller Lumholtz, Senior Analyst at Danske Bank notes that South Africa and Turkey were in the limelight during most of the session yesterday.
Key Quotes
“The South African Reserve Bank delivered a 50bp rate hike and thereby followed in the footsteps of the 425bp Turkish rate hike.”
“Despite the aggressive response both TRY and ZAR weakened further following the SARB and FOMC meetings although the crosses have stabilised somewhat overnight, see SARB delivers 50bp rate hike in order to tame inflation and EM turmoil: It ain’t over till the Chinese lady sings.”
Key Quotes
“The South African Reserve Bank delivered a 50bp rate hike and thereby followed in the footsteps of the 425bp Turkish rate hike.”
“Despite the aggressive response both TRY and ZAR weakened further following the SARB and FOMC meetings although the crosses have stabilised somewhat overnight, see SARB delivers 50bp rate hike in order to tame inflation and EM turmoil: It ain’t over till the Chinese lady sings.”