1 April 2025 is here, a day known for hijinks around the world, but today also marks the 10-year anniversary of my daily forex report!!! This milestone is a proud achievement.

We finally had some movement in our exchange rate with the Rand breaking out of its well defined trading range last Friday afternoon. Unfortunately however the direction of this move was not what we were hoping for.

Not wanting to waste a marketing opportunity Canadian beer maker, Moosehead Breweries, is selling a “Presidential Pack” which is 1 461 cans of bear weighing 862 kilograms, one for each day of Trump’s 4-year presidency. The strapline is catchy: “We can’t predict how the next four years will go, but considering how 2025 started, we have a feeling this many beers will come in handy.”

As financial markets brace for the next wave of tariff announcements suddenly the picture in the US isn’t as bad as everyone was predicting, and as a result the Dollar is showing signs of life. Unfortunately for the Rand that means pressure on our exchange rate.

“Transitory” is back!!! The last time the FED referred to inflation as transitory things didn’t go well with price increases in the US ending up at 9% which finally forced the embarrassed central bank into action. Now the feeling is that tariff related inflation will also be transitory, I suppose only time will tell if they’re right this time.