ZAR The Rand weakened substantially yesterday, registering a 3.52% decline on the day to put us back at levels last seen at the beginning of the month, essentially wiping out all traction the local unit has made. The Rand reached a high of R15.1089/$ and ended the [...]
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ZAR The South African rand swung both ways for the better part of the session, struggling for direction. The rand started the Asian session soft as the market was most likely positioning itself for the budget speech, few minutes into the budget speech we saw the rand [...]
ZAR The Rand seems to have struggled to stick to a direction over the last couple of sessions as ‘Turnaround Tuesday’ struck again yesterday with the ZAR recovering back to the R14.50/$ levels after trading above R14.90/$ on Monday. The Rand reached a low of R14.5318/$, before [...]
ZAR The Rand seemed to be on a one-way track yesterday as the day started, hurtling weaker at a rapid pace by as much as 1.6% to reach a high of R14.9254/$. However, after 3pm local time as the US came in for trading, the Rand reversed [...]
ZAR The Rand was unable to hold onto its gains as the week came to a close, pushing back above the R14.70/$ level as risk sentiment dulled. The Rand reached a high of R14.7368/$ and ended the session at R14.6943/$. Weak data prints late on Friday were [...]
ZAR The Rand came back with a vengeance yesterday, but the rally was stopped short when the local unit did not have enough momentum to break through the 14.50 level. The Rand reached a low of R14.5053/$ and ended the session at R14.5938/$. While foreigners continued to [...]
ZAR The Rand benefited along with other emerging markets yesterday in risk on trade. The Rand reached a new 1-year low of R14.4158/$ and ended the session at R14.4557/$ allowing a recovery of just short of 5% in the first half of February. On local shores, active [...]
International The US dollar index slipped on Tuesday, trading at an almost two weeks low, on the back of improved risk sentiment and broader dollar weakness. Broader dollar weakness has been the theme, the dollar has been dropping since last week Friday against its major rivals, and [...]
International The dollar ticked lower yesterday, following the suspension of its recent rally on the back of Friday’s poor jobs data. Despite the US having an effective vaccine rollout, giving investors hope of a quicker recovery, the pending US stimulus disbursement and ultra-easy monetary policy have investors wary [...]