CD South Africa: Rand on track for recovery
Currencies Direct August 27th 2015 - < 1 minute read
Strong gains in both the US and China have eased nerves as global markets start to recover. With global sentiment on the up, the rand is back to more “normal” levels as it looks to break below 13/$. The local unit will still be subject to volatile trade as it has to deal with a few data threats, namely US second quarter GDP figures being released at 14h30 today (27 August).
Anything below expectations could see the rand drop below 13/$, but only time can tell. Congratulations to Wayde Van Niekerk on clinching gold in Beijing yesterday, he becomes the fourth-fastest athlete to run the 400m!
Commentary by Justin Lodewyk
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Currencies Direct