Rand’s winning streak ends as traders await expected rate cut
But Anchor Capital chief investment officer Nolan Wapenaar says there is ‘a reasonable prospect of rates remaining on hold for now’
The rand snapped its four-day winning streaking on Thursday as markets await the SA Reserve Bank’s interest-rate decision later in the day.
At 10.10am, the rand had weakened 0.63% to R16.3745/$, 0.47% to R19.3157/€ and 0.54% to R21.1842/£. The euro had weakened 0.12% to $1.1797. The local currency is down 14.19% so far in 2020 year.