I’m not sure if we are jinxed with this catch-up but it seems that the Rand is always very close to where we were this time in the previous week, but the trading sessions in between have seen wide pricing swings. One again, we are around R13.60 to the Dollar today, slightly stronger than where we were last Wednesday, but in the interim the Rand has made run towards R13.40. What happened?
So the Rand made a few passes at the R13.40 barrier but didn’t quite make into the R13.30’s, then over the past few sessions those gains have been given back with our move towards R13.60. Is the Dollar putting pressure on us or is something else going on?
We always need to have one eye on the economic calendar when trying to understand Rand movements. Is there anything that stands out over the next few days?
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