CD South Africa: Rates on hold, rand back at 12/$

Currencies Direct March 27th 2015 - < 1 minute read

The rand is back on the EUR/USD train as it tracked a weaker euro against the dollar yesterday. The South African Reserve Bank painted a fairly optimistic picture yesterday, but revised inflation upwards and warned that interest rates would likely be increased later in the year. Keep an eye on the EUR/USD rate over the next week as it will most likely provide direction for the rand. Today sees Bank of England Governor Mark Carney speaking, as well as US Fed Chair Janet Yellen later this evening. Have a great weekend folks, and enjoy the cricket on Sunday!

Commentary by Gareth Frye

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Currencies Direct

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