The ZAR Exchange Rate Thread

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If you're a currency trader and willing to take a bit of a risk you could make a killing from the Rand with it jumping up and down every day.

I don't think it will weaken too much on the news from Moody's, as that was expected. It's the actual downgrade that will be a real blow.
 
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I'm puzzled by the Rand appreciation, even after the statement from Moodys. No obvious reason why
 
#RandReport: Rand weaker on downgrade fears, stocks rise

JOHANNESBURG – The rand fell as much as 2.4 percent against the dollar in generally risk averse trade on Monday, weighed down by worries that a credit rating downgrade could be looming.

Stocks ended the session higher, with Old Mutual among the top gainers after a broker upgraded its target price.

The rand stumbled to 15.5900 versus the greenback, its softest in more than a week according to Thomson Reuters data, and was down 2.3 percent at 15.5675 by 1610 GMT compared with Friday’s close.
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More at:http://ewn.co.za/2016/03/14/Rand-weaker-on-downgrade-fears-stocks-rise
 
and then in one day it jumps again.
Rand/$ 15.96 this morning. WTF really. This is getting stupid now.
 
poffle said:
and then in one day it jumps again.
Rand/$ 15.96 this morning. WTF really. This is getting stupid now.
Click to expand...

I reckon these up and down swings are going to become commonplace for the foreseeable future.
 
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