Re: South African Rand
The reason for less profit on trading against the Rand is the high interest rates the Reserve bank has put up this year to counteract inflation. - four percentage points so far. This resulted in the Rand making gains this week against the USD. The Rand is now at a 12 week best against the dollar. All eyes are on the release of the PPI figures tomorrow Wednesday 23 Oct to see if we can expect the BIG $10 to be broken early next year.
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