CD South Africa: Rand hits the fan
Currencies Direct February 12th 2015 - < 1 minute read
The rand hit its weakest level against USD in six years yesterday, touching 11.88/$. This level will be key as a break higher clears the road to 12/$. The Greeks and Ukrainians are our biggest problems currently with Greece unable to reach a new debt deal… will President Zuma add to the rand's woes this evening? Some good news: this is an emerging market phenomenon and not an SA one, with the rand not even close to the biggest loser! Today promises to be another crazy volatile one; if you're not sure what to do give us a call and we'll see how we can help. Enjoy the State of the Nation Address this evening (unless of course your electricity is cut) and if you're looking to buy rands now's your opportunity.
Commentary by Gareth Frye
Written by
Currencies Direct