WATCH: Rand strengthens due to lower US retail sales figures

File image: IOL

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video

JOHANNESBURG – The rand strengthened following lower-than-expected US Retail Sales figures which came in at +0.1 percent compared to the +0.6 percent consensus forecast according to Paul Muller the Corporate Treasury Manager at Peregrine Treasury Solutions. 
This caused the US dollar to weaken against all major currencies.
There are no local and market-moving international data due today.
The bias on the rand is stronger with the expected range between R14.25/$ and R14.45/$.
Get the latest market update and top stories from our newsrooms across South Africa, Africa and the world.  
The Business Report Market Update is published daily on the Business Report website. Stay in touch with the latest in financial and technology news on the Business Report website and social media channels.
Like Business Report on Facebook by clicking here or follow us on Twitter @Busrep.
You can also follow the Business Report on Instagram here