The rand ventured to 13.30/$ yesterday, as ‘risk-on’ sentiment drove emerging market gains (bets are for 1 more US Fed hike in 2018).
The local unit will continue to take its cue from global markets, with Thursday’s US inflation update the next big data release. Donald Trump look-alike Boris Johnson piled the pressure on UK Prime Minister Teresa May, joining the Brexit Minister and resigning in protest over her government’s ‘soft’ Brexit plans.
The Pound was weaker on the news, as uncertainty hit Downing Street. Back home, we have Eskom wage hikes to contend with, and of course the semi-final of the FIFA World Cup to look forward to, enjoy!
All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.