CD South Africa: Stronger rand finding its feet

Currencies Direct June 18th 2015 - < 1 minute read

The rand gained strong ground overnight after US Federal Reserve Chair Janet Yellen hinted that an interest rate rise would be slower than expected. The rand slipped below the 12.30/$ level after the news and has yet to trade above it since. If this level holds, a new trading range could be imminent. Today sees the Eurozone finance ministers gather as they try (once again) to find a solution to Greece’s debt problems, although no one is holding their breath. US inflation and initial jobless claims figures are due for release this afternoon and are the only data worth the wait. All in all it might be a good opportunity to start buying those dollars!

Commentary by Chris Williams

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Currencies Direct

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