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Currency volatility: a silent night

Local manufacturing numbers surprised on the upside yesterday, with 4% growth in the sector. This was double the forecast and helped the rand stay under 11.30 USD/ZAR for most of the afternoon. When London closed, the drop in volumes from the US bank holiday saw the EUR/USD pair surge to the upper half of 1.24, helping the rand to the low 11.20s. This is more or less where we open today, and with another quiet day on the cards we again look to the EUR/USD pair for guidance. Have a great day folks, we're almost halfway through the week!

Commentary by Danie Strijdom

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