Peregrine Treasury Solutions

25 Apr 18

Rand tests R12.50/$ as local strikes, US yields weigh

The rand briefly breached R12.50 to the dollar on Wednesday, as it came under pressure from rising US bond yields and local protest action. By 16:00 the local unit was trading 1.02% weaker at R12.45/$ after hitting R12.53 earlier in the session. It opened the day at R12.32/$. "With rising US bond yields, a risk-off investor mindset and the local elements including wage protests and Mining Charter uncertainty, the rand remains under pressure and vulnerable to further weakness," said Peregrine Treasury Solutions on Wednesday afternoon.

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24 Apr 18

Rand Slips to 3-month Low, Bourse Higher

The Rand came under pressure with the uptick in US capital market yields, losing about 1 percent to the dollar to R12.28 in early trade yesterday, its weakest level in more than three months.

23 Apr 18

Rand Takes a Hit Against the Dollar

The rand weakened significantly in morning trade against a firmer dollar on Monday, thanks to an uptick in US capital market yields. The rand lost almost 2% in mid-morning trade, to R12.26, while it also struggled against the other major currencies in the UK pound and euro.

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23 Apr 18

Rallying US Dollar Sees Rand Weakened

The Banking index yesterday fell nearly 2 percent as the rand weakened to a 3-month low against a resurgent dollar bolstered by rising US bond yields. The rand weakened to R12.27 against the greenback, R17.12 to the pound and R14.99 against the euro. Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions, said the decline was driven by rising US bond yields which sparked a sell-off of riskier emerging-market assets.

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19 Apr 18

Resilient Rand Trades Firmly Under R12/$ on Upbeat Local Data

The rand continued to trade under the R12/$ level on early trade on Thursday, following healthy local retail sales data, better than expected local inflation data and broad emerging market strength. Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions said the market was still digesting comments by President Cyril Ramaphosa about South Africa's economy and policies during his charm offensive in London.

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