The ZAR Exchange Rate Thread

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cerebus said:
Basically nobody has any idea :D
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You need to look at it from a trader's perspective. The multiyear trend has been in the direction of more rand weakness, the fundamentals are pointing towards more rand weakness, Chinese issues are pointing towards more rand weakness, etc, etc. How a trader plays this is simply to look for opportunity to get in as cheaply as possible trying to cash in on the most likely continuation of the trend. So any dips will be bought up at obvious technical levels until some very strong news convinces the big boys that buying up the dips is getting too risky to roll the dice on.
 
I think those 50 points led to a lot of wishful thinking triggered by the short term reaction to the increase, it was never going to be enough to dam the flood for more than 5 minutes ;).
 
Dave123 said:
I think those 50 points led to a lot of wishful thinking triggered by the short term reaction to the increase, it was never going to be enough to dam the flood for more than 5 minutes ;).
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Yup. All it does is attract more risky investors in the short term. Which isn't bad of course.
 
So, the ZAR quietly strengthened to its strongest level in almost a month. Currently sitting at 15.76
 
Google graph still shows a temporary spike with the strengthening trend just having fizzled out for the moment. ;)
 
Swa said:
Yeah but I'm talking about the general trend and not up to the minute data.
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Well if you google

1 USD in ZAR

that data is def too far off for the pace of this thread...i know because it caught me out a couple pgs back
 
Strengthened to 15.60 in the run up. Wonder if someone got their hands on the speech beforehand?
 
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