CD South Africa: Rand getting dragged along

The rand followed emerging market currencies to weaker levels yesterday as the US dollar rally gained momentum. South Africa’s better than expected production figure did not help the rand’s cause, as thin US holiday trade only amplified the dollar's gains.

With next week’s jam-packed data calendar and the rand at its current levels, new all-time weakness could be on the cards. Today’s data sees UK GDP at 11h30 and Eurozone consumer confidence at 12h00.

Have a great weekend and good luck with your shopping on Black Friday!

Commentary by Chris Williams