CD South Africa: Return of the rand

Currencies Direct April 28th 2015 - < 1 minute read

The rand is back to 12/$ amid a wave of optimism ahead of Greek bail-out talks. Greece has started to show signs of compromise, removing its firebrand finance minister from the negotiating team and making the right noises ahead of the 11 May meeting. The EUR/USD looks set to remain within the 1.07 to 1.10 range, which translates into 11.90/$ to 12.30/$ range for the rand. The event of the week is Wednesday's US Federal Reserve Monetary Policy Statement, with markets keenly anticipating any change to the Fed's tone. In case you forgot it's Tuesday already with May Day on Friday making it only three days until another long weekend. Enjoy, folks!

Commentary by Gareth Frye

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Currencies Direct

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