It has been two weeks since we last caught up on the Rand and we were trading in the mid R14.90’s to the Dollar at that point. Looking at the market today I see that we are still in that neighbourhood, has much happened or has the Rand been stuck in a narrow range for two weeks?
Wow, that’s almost an eighty-cent trading range over the past two weeks! We’ll get to events tonight in a bit but what was the catalyst sending us on such a volatile ride?
Increasing bond yields in the developed world like the US, UK and Europe have been bad for the Rand all round.
OK, R15.57 to the Dollar is a bit of a shocker but we then went all the way back to R14.79. How was that possible?
So that brings us to today, what’s happing later that could throw the cat amongst the pigeons for the Rand.