Dollar Pairs and Yield Curves
The following pairs are cross pairs that are considered U.S. dollar pairs due to their movements in terms of U.S. bond prices and yields. U.S. dollar/South African rand is considered a dollar pair because it follows U.S. bond prices in U.S. markets, but the U.S. dollar side of the equation follows yields of South African bonds when trading in South Africa. The time difference is six hours ahead when compared to New York Eastern Standard Time.
The Johannesburg Stock Exchange opens for trading in Bond Futures, currencies and other stocks and derivatives at 3:00 a.m. EST and closes at 11:00 a.m. EST, so part of a New York morning will have duality of trading between both markets. Yet U.S. dollar/South African rand should ...
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