Rand gains as global tension eases
Local factors will pose a risk to the rand this week as more economic data will be released, including mining and manufacturing production and retail sales
10 June 2019 - 15:44
The rand was firmer against major currencies on Monday afternoon, finding some support from global catalysts, after the US and Mexico averted a 5% tariff on Mexican imports, and as expectations rose that the US Federal Reserve might cut interest rates.
The rand recovered further on Monday, after passing R15/$ last week, following the ANC’s conflicting statements on the mandate of the Reserve Bank, as well as poor economic data. ..
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