Peregrine Treasury Solutions

17 Apr 18

Rand Remains Range-bound Amid Lack of Data

Market analysts expect the rand to remain range bound on Tuesday, with little local economic data set to be published. The rand gained 10c against the dollar in early trade, but had again weakened to trade at its opening price against the greenback just before noon.

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13 Apr 18

Rand Steady Above R12/$ as Markets Focus on Geopolitics

The rand held fairly steady on Friday as the focus of global markets remained on geopolitical events, from the Trump/China trade tariff dispute to the situations in Syria and North Korea. "Geopolitics remains the core focus for the USD/ZAR pair," said Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions.

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09 Apr 18

Rand Spikes on Nene Comments, Renewed Trade War Fears

Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions, said good data coming out of the US was driving dollar strength. On the other hand, expectations of conflict between the US and North Korea, as well as trade tariff disputes between the US, China and the EU, are resulting in a selloff of emerging market assets. As a consequence emerging currencies are depreciating.

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29 Mar 18

Rand Weakens as Reserve Bank says Currency is Overvalued

The rand weakened against the dollar in morning trade on Thursday, having lost ground against the greenback on Wednesday following a cut in the interest rates by the South African Reserve Bank, who said that it believed the local currency was overvalued. SARB dropped the repo rate by 25 basis points from 6.75% to 6.5%.

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27 Mar 18

Reprieve a Boost for Rand

The Rand gained momentum yesterday with all eyes now on the Monetary Policy Committee meeting, the outcome of which will be announced tomorrow.