The rand strengthened overnight after trade tensions between the US and China seemed to ease.
The local unit opens at 13.27/$ and will continue trading in a range between 13.00-13.50/$ over the next couple of days, according to Bloomberg. Investors will be keeping a close eye when President Putin takes some time off of his FIFA World Cup duties to meet with President Trump later today, with little fireworks expected from the gathering (possibly just some explosive tweets).
On the data calendar this week: SA’s inflation data and the SARB’s interest rate decision are the highlights. Massive congratulations to France on winning their 2nd FIFA World Cup and to SA’s Kevin Anderson on being this year’s Wimbledon runner up!
All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.
* – Niel Lubbe