The rand has shown more considerable strength against the British Pound, closing last week’s trading at R22.859. More in the following report
The rand has continued to display strength against the dollar, albeit minor. After closing last week at R18.86 to the dollar the rand has spent Monday trading between 18.75 and 18.85. On Tuesday morning, the rand continued to perform strongly, sitting at R18.72.
On Tuesday morning, the rand initially weakened against the Pound, however, has since strengthened to R22.85. To reiterate, a breakback below the current support of 105.6 would be positive for the rand, emerging market currencies, and for “risk assets” as a whole. Until that comes to fruition, however, it is advisable to be on alert. Possibly the biggest driver of speculation, and the main economic event in South Africa, is the Medium-Term budget policy statement which will be released on Wednesday.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Surprising rand strengthens ahead of mini budgetThe rand rose in early trade on Monday, the start of a data-heavy week that includes the mid-term budget statement.
Read more »
South Africa's rand starts week firm with focus on mid-term budgetThe South African rand rose in early trade on Monday, the start of a data-heavy week that includes the government's mid-term budget statement.
Read more »
Rand starts week firm with focus on mid-term budgetIn early trade the rand was at R18.79 to the dollar.
Read more »
Rand weakens against stronger dollar; focus on mid-term budgetIn early trade the rand was at R18.89 to the dollar.
Read more »
South African rand weakens against stronger dollar; focus on mid-term budgetSouth Africa's rand weakened against a stronger U.S. dollar on Tuesday, as investors awaited the government's mid-term budget statement.
Read more »
South Africa: Communal Toilets Overflowing With Faeces Due to ExtortionAbout a month ago, Sanitech workers were held at gunpoint and extortionists demanded several thousand rand
Read more »