Peregrine Treasury Solutions

02 Mar 18

Rand Turns Just Before Hitting R12 to The Dollar


The South African rand recovered some of the losses made on Thursday – off the back of a weaker dollar – but is still trading near 2-week lows, with a potential move beyond R12 to the dollar still a possibility. Following a third session of weakening on Thursday, the rand recovered slightly in morning as US president Donald Trump announced his intent to impose tariffs on steel and aluminium imports in the States.

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01 Mar 18

Rand Stumbles to 2-Week Low as FED Jitters Kick-in


South Africa’s rand slipped to its lowest in two weeks on Thursday, succumbing to month-end demand for dollars by local firms as the increasing chance of higher interest rates in the United States lured bulls back into long-dollar positions.

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01 Mar 18

JSE Retreats Slightly but Holds Up Well Against International Markets


The JSE was a little lower on Thursday, but managed to outperform its international peers as it found some relief from a weaker rand. The all share was off 0.18% at 58,218.30 points at lunchtime, with big diversified miners faring worst as a result of lower commodity prices due to a stronger dollar.

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01 Mar 18

Rand Corrects on SA Land Issues and Global Factors


Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions, explained that the rand correction is mainly driven by dollar strength, following the Federal Reserve’s meeting. “Markets are now anticipating more than the initial two or three US interest rate hikes this year.”

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28 Feb 18

Softer Rand Attributed to Cabinet Compromises


Bianca Botes, corporate treasury management at Peregrine Treasury Solutions, said markets had largely anticipated the reshuffle and a big portion of rand strength had been priced in. "The composition of the cabinet resembles the pressure Ramaphosa is under to maintain a 'united' party."

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