In South Africa Rand firms 1 percent on rising risk appetite

South Africa's currency gains on expectations that the Bank of England could cut interest rates, lifting demand for higher yielding assets.

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A South African child holds a 50 rand note , file. play A South African child holds a 50 rand note , file.
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South Africa's rand strengthened 1 percent on Thursday on expectations that the Bank of England could cut interest rates, lifting demand for higher yielding assets.

"Risk sentiment remains positive and the expectation that the Bank of England will introduce some form of monetary easing later today could see the rand strengthening even further," ETM market analyst Ricardo Da Camara said.

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