Peregrine Treasury Solutions

16 Oct 18

Rand Strengthens Due to Lower US Retail Sales Figures


The rand strengthened following lower-than-expected US Retail Sales figures which came in at +0.1 percent compared to the +0.6 percent consensus forecast according to Paul Muller the Corporate Treasury Manager at Peregrine Treasury Solutions.

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15 Oct 18

Rand Firm as Moody's Delays Ratings Move


The rand strengthened further on Monday after Moody's Investors Service held off on its ratings review of South Africa on Friday. By 10:04 the local unit was trading 0.41% firmer at R14.45 against the US dollar, despite the dollar firming somewhat on risk-off sentiment.

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15 Oct 18

Moody's Postponement Buys SA Some Time


The rand hit the ground running yesterday breaking below last week’s best levels with market analysts expecting more strength from the domestic currency as the week progresses. Dynamic Outcomes’ James Paynter said it was now wait-and-see time as Moody’s delayed their announcement until after the Medium-term Budget Policy Statement “… probably a good call”.

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10 Oct 18

Rand Rides Mboweni Wave - but Strong Dollar Remains a Threat


The rand opened trade on Wednesday morning on the front foot after gaining 40 cents to the dollar after Tito Mboweni was named finance minister on Tuesday afternoon. The local currency, which briefly fell below 15/$ in the early afternoon on Tuesday as uncertainty around the fate of Nhlanhal Nene lingered, ended up 1.8% stronger against the greenback, an indication of positive market reaction to the appointment of finance chief of the former SA Reserve Bank governor. RELATED ARTICLES Limited room to manoeuvre as Mboweni faces mammoth task to revive SA economy READ: Ramaphosa's statement on his appointment of Tito Mboweni as finance minister Business leaders hail Mboweni's appointment as 'among finest in recent memory' Rand holds gains as Tito Mboweni announced as finance minister The rand opened trade on Wednesday morning on the front foot after gaining 40 cents to the dollar after Tito Mboweni was named finance minister on Tuesday afternoon. The local currency, which briefly fell below 15/$ in the early afternoon on Tuesday as uncertainty around the fate of Nhlanhal Nene lingered, ended up 1.8% stronger against the greenback, an indication of positive market reaction to the appointment of finance chief of the former SA Reserve Bank governor.

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04 Oct 18

Rand Weakens in Early Trade as Strong Dollar Keeps Pressure On


The rand weakened by 0.5% against the dollar in early trade on Thursday, with analysts saying it will likely remain under pressure throughout the day. The local currency opened Thursday morning at 14.65/$ and was changing hands at 14.71/$ at 08:18. This after it lost 2% against the greenback on Wednesday due to a combination of a rise in US treasury yields and a strong dollar.

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