The Zambian Kwacha remained under pressure on Thursday, extending its losses for a fourth consecutive trading session against the United States dollar.
According to data from Bloomberg, the Kwacha slipped by 0.18 percent to close slightly above K19.20 per dollar, after briefly weakening past K19.50 during intraday trading.
Analysts say that, barring any major shocks, the local currency is on track to register a weekly loss, weighed down by liquidity challenges and ongoing geopolitical tensions in the Middle East, which have fuelled a global risk-off sentiment.
Read more: Kwacha ranks as Africa’s best performing currency in February
Meanwhile, Access Bank Group noted in its market commentary that the US dollar eased slightly ahead of the release of Friday’s payrolls report, a key indicator that could provide fresh signals on the policy direction of the Federal Reserve.
The Bloomberg Dollar Spot Index dipped by 0.1 percent, but remains on course for its largest weekly gain since November 2024.
“The dollar’s modest retreat coincided with a drop in Brent crude to around US$84 per barrel, though oil is still set for its biggest weekly gain since 2022,” the bank said.
It added that a stronger-than-expected payrolls report could push the Federal Reserve toward a more balanced policy stance, suggesting markets may be underestimating potential risks that could support the US dollar.
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