The Pound to Rand exchange rate has consolidated its break above the major multi-month trend-line and is forging higher- reinforcing the expectation that the Rand will weaken.
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Credit rating fears are weighing on the Rand after a recent report by Moody's caused unease amongst investors.
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The Pound to South African Rand is broadly in a sideways trend between about the 17.70 and 15.00 levels.
Read more … →The South African Reserve Bank (SARB) cut interest rates by 0.25% at their rate meeting on Thursday and the Rand fell back.
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The Pound to South African Rand is in a short-term uptrend since forming a low in June, which is forecast to continue in the week ahead.
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South Africa is a notch away from sub-investment grade, and the potential capital outflows of an initial downgrade could amount to $14bn.
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At the start of the new trading week Sterling continues to rise versus the South African (SA) Rand reaching a new 2-month high of 17.58.
Read more … →The Rand is the easily the worst-performing major currency in the month-to-date and week-to-date periods with the latest bout of weakness coming on increased political interference in the country’s…
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Buy Pound Sterling against the Rand say strategists at one of the world's largest investment banks.
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