Shocking USD GDP figures yesterday coming out at -2.9%, much lower than expected by the market even against the previous figures of -1.0%. A huge disappointment and the worst posted since the mid-recession days. The South African Rand enjoyed a sharp boost but the brief gains were dissipated overnight.
Elsewhere the FED have mounted further pressure on the banking sector by announcing that they intend to impose stricter financial controls. Read the full story in the |FT here