CD South Africa: Eskom sheds power… and rand gains
Currencies Direct January 28th 2015 - < 1 minute read
Load shedding was the talk of the town yesterday as Eskom commenced stage 2 shedding (get use to it as its likely to be a regular event, at least until April). The rand was one of the biggest losers, shedding 2% against the euro and 1.5% against USD. It's not all doom and gloom as foreigners poured money into our bond markets yesterday, which is a rather good sign! Today "should" be a quiet day, with markets awaiting tonight's US Federal Reserve press statement and tomorrow's SARB interest rate announcement.
Commentary by Gareth Frye