The Rand notched up a hat-trick of gains over the Dollar, Pound and other major currencies by the mid-week interval following a sharp reversal from last Friday’s 2021 lows.
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ZAR on course for hat-trick of losses vs USD and GBP as a new incarnation of coronavirus adds to domestic risks.
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The Rand entered the new week in a position of vulnerability after recent losses undermined a pair of important resistance levels for the USD/ZAR exchange rate, giving rise to a risk of further los…
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The Rand whipsawed after the SARB raised its cash rate with price action coming as a strong Dollar appeared to weigh on many currencies.
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"The rand risks marked weakness if the MPC does not hike the repo rate this week as other EM currencies pull ahead," - Annabel Bishop, Chief Economist at Investec.
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GBP/ZAR is rising after finding support at the 20.00 handle and bouncing.
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The Rand tumbled alongside many other currencies in the mid-week session as the global market tide turned against risky assets while lifting perceived safe-havens in price action that could lead th…
Read more … →Investor confidence in the Rand has been permanently shaken by the July riots, while expectations for interest rate rises at the U.S. Federal Reserve will act as a global headwind to the currency.
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The South African Rand pared away some of September’s losses in the opening week of October but a tightrope of risks still litters the currency’s path through the remainder of the month and could s…
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