This is despite a dollar that had slipped further off its recent best levels.
This morning sees the rand trading at R15.98 in directionless holiday Far East markets. The sheer number of new Covid infections globally is still weighing on market sentiment and keeping investors on the sidelines.
Gold closed firmer on Friday, Platinum was flat, and Palladium ended weaker. This morning we have Gold trading a touch lower at $1,824, Platinum is flat at $973, and Palladium is marginally stronger at $1,903. Oil is trading higher ahead of the upcoming OPEC+ meeting, with Brent currently quoted at $78.31 and WTI at $75.77.
The DXY index ended lower at 95.97 on Friday as the dollar lost ground to both the euro and pound, which closed at 1.1368 and 1.3529, respectively. The greenback has opened the new year slightly firmer at 1.1339 against the euro and at 1.3499 against the pound, still firmly entrenched in recent trading ranges.
US treasury yields are currently holding on to their higher levels while equity markets are mainly in the red.
