The ZAR weakened after ESKOM announced Stage 6 after the Wage strike left the SOE in disarray.
The ZAR consolidated its hard earned gains below R16.000/$ following a strong showing last week.
The ZAR strengthened on the back of a strong Risk asset rally on Wall Street on Friday.
The ZAR continues to trade inside its weekly range of 15.8200-16.0800, on the back of uncertainty around Fed policy and Economic growth.
The Rand continues to range trade around the R16.0000/$ pivot.
The ZAR remained in its range after reaching 15.8800 in Joburg trading, only to return back to 16.0000 in Asian trading.
The ZAR continued to fluctuate around the 16.0000, after a low liquidity session on the back of the US holiday.
The ZAR consolidated at weaker levels following heavy selling last week