As I expected £ taken big hit last 2 days...R/£ currently at 18.67, down from 19.21 at it's peak recently with the Eskom LS fiasco.... this is due to the continued uncertainty with the Brexit withdrawal now almost certainly not going to happen on 29th March....
I'm hoping the £ crashes to 16 or less so I can send some much needed monies over to UK.
Nobody is happy with it and the no votes were always going to be there to stop the process. The people are speaking for a second referendum where even those that voted leave will change their votes realising the mess it would cause. Democracy is more than just making a mark on a piece of paper.
Actually the whole sham was engineered to get rid of May.
The rand was caught off guard this weekend, slipping back to levels as weak as R14.20/$, as National Treasury announced a bailout of Eskom on Friday this is according to Bianca Botes the Corporate Treasury Manager at Peregrine Treasury Solutions.
The rand is likely to continue its leg lower today as the Eskom bailout continues to filter through the currency market. At the same time, emerging markets are again feeling the pinch of safe haven purchases as the US/Iran oil debacle strains sentiment.