WATCH: Rand rebounded due to decline in US stocks
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JOHANNESBURG – The rand rebounded sharply following lower-than-expected CPI figures from the US as well as a decline in US stocks Bianca Botes the Corporate Treasury Manager at Peregrine Treasury Solutions:
On Friday, the much anticipated Moody’s ratings announcement was postponed, buying South Africa more time to bolster key measurement criteria, such policy stability.
No local data is due today, while US retail sales will set the tone for this afternoon.
Trading at R14.56/$, the rand is currently stable with a range of R14.48 to R14.70 on the cards for the day.
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Source: iol.co.za