The ZAR weakened on the back of news that an independent panel believes there are grounds for impeachment against President Cyril Ramaphosa.
The ZAR continued its bullish trend, but stabilising below the R17/$ level of today’s 10h00 Phala-Phala report.
The ZAR weakened throughout the session on the back of Risk aversion following unrest in China.
The ZAR weakened on the back of Risk off sentiment following unrest in China.
The ZAR reached 16.9000, before reversing on the back of profit taking ahead of the SARB MPC.
The ZAR gained on the back of higher SA CPI and Dovish Fed minutes to trade below R17/$ for the first time since 13 Sept 2023.
The ZAR strengthened as Risk appetite returned to markets ahead of the US FOMC minutes.
The ZAR range traded ahead of this week’s FOMC minutes as well as Thursday SARB MPC rate decision.
The ZAR strengthened to reach 17.2000 in Friday trading on the back of positive Risk sentiment.
The ZAR weakened on the back of hawkish comments from Fed governors who raised the terminal Fed funds to between 5 & 7 %.