CD South Africa: Rand crawls back

Currencies Direct July 29th 2015 - < 1 minute read

The rand strengthened marginally against the dollar and euro yesterday as global commodity prices bounced back from low levels. This was not the case against the pound as the rand ended the day at 19.63/£ – its weakest close to date.

Unfavourable US data released yesterday added to the rand’s strength against the dollar along with rising global equity prices. Today should be a quiet day in the wake of the FOMC statement later tonight where all eyes will be on Janet Yellen.

Commentary by Chris Williams

Written by
Currencies Direct

Select a topic: