The rand touched 14.75/$ yesterday after facing a barrage of negative news.
Turkey announced retaliatory tariffs against the US, Moody’s released a damning report on the state of SA’s economy ……….
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The rand touched 14.75/$ yesterday after facing a barrage of negative news.
Turkey announced retaliatory tariffs against the US, Moody’s released a damning report on the state of SA’s economy ……….
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The past few months certainly haven’t been kind to the rand, with the emerging-market currency tumbling 13.6% against the US dollar so far this quarter.
But it appears that the South African Reserve Bank (SARB) won’t be taking any sudden action to bolster the currency.
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US Fed chair Jerome Powell’s hawkish (very positive) testimony yesterday has sent the greenback on a mini-rally.
The dollar gained more than 1% against the majors as Powell expressed optimism that the US economy remains strong.
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The countdown has begun as Zuma’s days as President appear to be numbered with the ANC NEC meeting later today.
After the long wait and numerous speculation “Patience” is still key. USD/ZAR opens below 12/$ as EM Markets remain strong regardless of the volatility in global stock markets.
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Coinado CEO Aaron Zirker discusses statistical arbitrage trading. Discount code: BITCOINKN
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