CD South Africa: US markets destroy rand gains

Currencies Direct December 18th 2015 - < 1 minute read

Rand gains were short-lived yesterday, with the local unit losing nearly 2.5% against the US dollar in afternoon trading (US markets seemed to be the catalyst).

Volatility was the story of the day, with the rand's trading range around 3%. We're expecting the rand to remain in the 14.90/$ to 15.40/$ range as markets wind down for the summer break. On that note, we'll be open throughout the festive season. Happy holidays to all — only one week until Christmas!  

Commentary by Gareth Frye

Written by
Currencies Direct

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