D-Day for the rand
The rand is under pressure as markets pause ahead of a critical deadline for the US-Iran war.
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The rand is under pressure as markets pause ahead of a critical deadline for the US-Iran war.
The rand suffered another blow on Friday, weakening to R17.20 to the dollar during mid-afternoon trade.
The rand is taking a beating as markets stick to a risk-off stance, worried about prolonged conflict in the Middle East and the resulting disruptions to global oil supplies.
Money is flowing out of South Africa as global investors rush toward safer assets amid escalating geopolitical tensions in the Middle East.
The rand has weakened sharply against the US dollar over the past week. Economists and analysts have laid out where they expect things to go from here.
DoubleLine’s Bill Campbell sees attractive nominal carry and real yields in South Africa.
The rand has taken a knock following the eruption of war between the United States/Israel and Iran, with trouble brewing for markets if the conflict escalates and expands.
The rand is “treading water” around R16 to the dollar at the moment, as global uncertainty has markets in a ‘wait-and-see’ mode, and tensions in the Middle East push traders into gold.
South Africa’s rand has seen another bout of strength against the US dollar, reversing the losses seen at the start of the month.
The South African rand has shaken off some of the weakness that gathered last week, rebounding to back below R16.00 to the dollar.