CD South Africa: It’s all Greek to the rand

Currencies Direct June 19th 2015 - < 1 minute read

Markets seem to be ignoring the ongoing saga coming out of Greece; if the rand continues ignoring all the noise, it will resume tracking EUR/USD (meaning volatility is here to stay). The Eurozone meeting held yesterday came to nothing (big surprise there) and the IMF will consider Greece in default if it's unable to pay back its debt by the end of the month.

Today the ECB will hold an emergency meeting to discuss whether to lend more money to Greece, knowing it might never be seen again. Other than that, we end the week with a quiet day on the data front. Enjoy the weekend and let's support SA rugby… Come on Stormers!

Commentary by Chris Williams

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Currencies Direct

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