Sterling hovered around its highest levels in almost three months against the euro on Tuesday, as markets raised their bets on rate cuts by the European Central Bank.

The dollar sank to its lowest on Tuesday as investors continued to take the view that growth in the US economy is slowing down.

The South African rand slipped on Tuesday after mixed local economic data, ahead of inflation figures and an interest rate decision this week.

The U.S. dollar stumbled to a two-month low on Monday, extending its downtrend from last week as traders reaffirmed their belief that U.S. rates have peaked.

The Pound Sterling eased on Wednesday after data showed British inflation cooled at its fastest pace in more than 30 years in October.

The South African rand soared over 2% on Tuesday as the dollar slumped after softer-than-expected U.S. consumer inflation data boosted interest rate expectations.

Asian shares inched up in cautious trading ahead of a crucial U.S. inflation report that could heavily influence the Federal Reserve’s policy outlook.

The dollar eyed its best week against the yen in three months after Federal Reserve Chair Jerome Powell poured cold water on market expectations.

Asian share markets rallied on Thursday and the dollar was weaker after most U.S stocks edged higher and the S&P 500 recorded its longest winning streak in two years.

The U.S. dollar licked its wounds and regained its footing on Wednesday and inched higher after a slew of Federal Reserve speakers left the door open to further rate hikes.

The South African rand weakened on Monday, giving back some of the gains the currency made last week on hopes for the end of the U.S. Fed’s tightening cycle.

British bonds were on track for their best day in more than a month on Thursday and stocks jumped after the Bank of England held interest rates steady for a second consecutive meeting.

The South African rand firmed on Wednesday after South Africa’s mid-term budget statement, despite the proposal for tax measures next year to raise additional revenue as budget deficits are projected to widen.

The South African rand strengthened on Monday at the start of a data-heavy week that includes the government’s midterm budget statement.

The dollar headed for weekly gain on Friday, aided by solid U.S. growth figures that bolstered the case for higher-for-longer interest rates.

The pound edged up against the euro, shaking off data that showed the UK labour market lost more steam in August.

Asian shares hit 11-month low on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further.

The South African rand strengthened against the dollar on Tuesday, ahead of closely-watched local inflation figures which could offer investors clues on the central bank’s potential rate path.

The South African rand stabilised on Friday after a week of volatility, with the focus turning to domestic inflation and retail sales figures this week.

Sterling rose, moving off recent lows and rallying in line with a rebound across markets. The rand was broadly unchanged in early trade

The dollar weakened on Tuesday along with U.S. interest rate expectations and a fall in Treasury yields as investors detected a slight dovish shift in Federal Reserve officials’ tone.

The South African rand recovered some losses on Friday after slumping to a four-month low earlier on the back of positive U.S. payrolls data.

The dollar charged toward a 12-week winning streak on Friday, though it remained mostly rangebound as markets looked to U.S. nonfarm payrolls data later in the day for clues on whether the Federal Reserve’s hawkish messaging on rates will need tweaking.

The U.S. dollar retreated on Wednesday, tracking the pullback in U.S. Treasury yields, amid a mixed set of data suggesting that there are pockets of weakness in the world’s largest economy.

The South African rand extended losses on Tuesday, bearing the brunt of the stronger dollar and surging U.S. Treasury yields, analysts said.