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'You can buy far more pounds, dollars, euros today than you could 3 months ago'

3 July 2019 6:53 PM
Tags:
Rand
Currency
The Money Show
Standard Bank
Rands
Bruce Whitfield
Exchange rate
Investec
Annabel Bishop
John Cairns
Rand Merchant Bank
rmb
economist
Warrick Butler

Can the rand break through R14/US$? The Money Show’s Bruce Whitfield interviews John Cairns, Strategist at Rand Merchant Bank.
Picture: Supplied.

You can buy far more pounds, dollars and euros today than you could a week ago; certainly, more than a month or three months ago.

Bruce Whitfield, The Money Show

The rand weakened slightly to R14.09 to the US dollar on Wednesday (3:19 pm) from its Tuesday close of R14.08.

The rand is really showing little sign that potentially strong weakness is on the horizon…

Warrick Butler, Chief Trader - Standard Bank

We expect this [the rand strengthening above R14/US$] could only be likely if the FOMC cuts its fed funds rate by 25bp, with the earliest interest rate meeting on 31st July...

Annabel Bishop, Chief Economist - Investec

The Money Show’s Bruce Whitfield interviewed John Cairns, Strategist at Rand Merchant Bank.

Whitfield asked him to explain what is happening to the rand, and the likelihood of it getting stronger than R14/US$ in the short-term.

Listen to the interview in the audio below.

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This article first appeared on 702 : 'You can buy far more pounds, dollars, euros today than you could 3 months ago'


3 July 2019 6:53 PM
Tags:
Rand
Currency
The Money Show
Standard Bank
Rands
Bruce Whitfield
Exchange rate
Investec
Annabel Bishop
John Cairns
Rand Merchant Bank
rmb
economist
Warrick Butler

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