Rand delivers another surprise against the US dollar
The rand continues to surprise markets by holding firm in situations that would have caused it spiral in the past.
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The rand continues to surprise markets by holding firm in situations that would have caused it spiral in the past.
The rand has strengthened to below the 16-per-dollar mark.
The rand is benefiting from shifts in global markets that are feeding risk-on sentiment – despite volatility in the Middle East.
The rand strengthened late on Friday following shock jobs data from the United States, which softened the dollar and boosted gold.
Despite weakening on the resurgence of war in the Middle East, the rand is again proving to be resilient and beating the odds.
The rand took a hit on Wednesday after US President Donald Trump said a ceasefire with Iran was “over”.
Nerina Visser, beursverhandeldefondsstrateeg: ETFsa
The rand has pushed to its strongest level since March, gaining on news that the United States and Iran have reached a deal to end the war in the region.
The South African rand is heading down the wrong path if the conflict involving Iran drag on.