Rand breakout

Currencies Direct December 12th 2014 - < 1 minute read

The rand has finally broken the 11.56/$ after testing the resistance level on numerous occasions this week. USD/ZAR starts off at 11.63/$ this morning with the big question still ringing, where to go from here? At time of writing we’ve still not heard from our favourite rating agencies S&P and Fitch as to whether SA’s credit rating will be downgraded again. As for Cape Town, we’ve been voted ‘Best City in the World for 2014’ by The Telegraph. Enjoy the weekend folks, we certainly will be!

Commentary by Justin Lodewyk

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Currencies Direct

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