CD South Africa: Dollar slows, euro flows
Currencies Direct May 14th 2015 - < 1 minute read
Yesterday saw another volatile day for the rand, this time driven by signs of an improving Eurozone economy, contrast with poor retail sales casting doubt over the US recovery. The local unit strengthened below 11.90/$, but lost ground to both EUR and GBP. If the US economy is indeed stuttering, we may only see US interest rates raised early next year. The news has helped calm markets overnight and could lead to a less volatile day today… let’s hope so!
Commentary by Gareth Frye
Written by
Currencies Direct