The U.S. Republican-controlled House of Representatives narrowly passed Trump’s “One, Big, Beautiful Bill” of spending and tax cuts.
“The upside to this bill is that it will likely boost U.S. demand in the short-to-medium term. The downside is that forecasts are pessimistic on whether it will successfully generate enough GDP growth to outpace the increased spending,” ETM Analytics said in a research note.
Like other risk-sensitive currencies, the rand often takes cues from global drivers like U.S. policy and economic data in addition to local factors.
Sam Busa