CD South Africa: Rand gains at dollar expense
Currencies Direct May 15th 2015 - < 1 minute read
The rand dug its way below 11.84/$ yesterday as markets bet on the US Federal Reserve postponing interest rate hises until early 2016. The bond sell-off (the main drive of the week's volatility) seems to be grinding to a halt again, although that's what we thought last Friday as well! Today's risks come from US manufacturing data later in the day. Look for possible gains against the US dollar today, however the rand's performance against the euro will depend on EUR/USD. And it's a Friday, so have a great weekend folks!
Commentary by Gareth Frye
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Currencies Direct