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CD South Africa: Rand recovers but risk remains

Currencies Direct May 28th 2015 - < 1 minute read

The rand is still on the EUR/USD train, with yesterday's recovery (albeit slight) spurred by a return to risk-on and euro gains. The dollar is still being fueled by strong US data and the possible rise of US interest rates by year-end. Yesterday saw the rand hit 12.16/$, before recovering to close at 12.06/$, while remaining range-bound against the euro, 13.05/€ — 13.20/€. It's a quiet day on the markets, but certainly not a quiet day at FIFA HQ… 

Commentary by Chris Williams

Written by
Currencies Direct

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