Browsing: John Cairns

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Rand outperforms ahead of rates move

The rand continued its rally on Monday, outperforming other currencies a few days before the South African Reserve Bank (Sarb) announces its latest interest rate decision, with analysts expecting the repo rate to remain at 7%. Trading 0,8% stronger

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Rand on edge

While ANC secretary general Gwede Mantashe’s address regarding finance minister Pravin Gordhan’s battle with the Hawks pushed the rand down by 10c on Tuesday, it was the US rate hike threat that caused further concern over

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Rand’s plunge halted – for now

Finance minister Pravin Gordhan’s response to the Hawks directive helped the rand ease off its decline, but analysts said if he is arrested or fired the currency is heading for trouble. Gordhan said on Wednesday he would not adhere

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Rand breaks through R15/$

The rand has broken the R15/US$ ceiling on Wednesday after US Fed chair Janet Yellen surprised on Tuesday night with dovish comments, depreciating the dollar against most currencies. “A need for caution is all it took from Janet Yellen in a speech

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Little hope for battered rand

Standard Bank Research said the “rand sacrificed most of the gains it had made since the end of January”, which analysts on Monday said was due to a boiling point in politics involving President Jacob Zuma and finance minister Pravin Gordhan