Why is the Rand not falling against the Pound?

[silkman]

So this morning after a Brexit, the Rand drops badly against the dollar but not the pound- Why? It's trading at more or less the same levels as a couple of weeks ago- why?

 

[Sinbad]

So this morning after a Brexit, the Rand drops badly against the dollar but not the pound- Why? It's trading at more or less the same levels as a couple of weeks ago- why?

Because the pound has also tanked.

 

[wezzcoetzee]

Pound is recovering against the rand, the rand is just falling and falling against the $$, went from like R14.40~ to now R15.60

 

[ngwe23]

Because they are falling at the same time

 

[DarthCat]

Because they are falling at the same time

this

 

[xumwun]

Pound is recovering against the rand, the rand is just falling and falling against the $$, went from like R14.40~ to now R15.60

It's come back a bit since. Around 15.30 now

 

[lerouc]

Trust me it is. I bought a few things online on tuesday and then i got my money reimbursed, lost almost 10% due to the exchange rate.

 

[spyketdog]

So this morning after a Brexit, the Rand drops badly against the dollar but not the pound- Why? It's trading at more or less the same levels as a couple of weeks ago- why?

Simple logic actually. Forex is traded in pairs. So:

GBP/USD

USD/ZAR

EUR/USD

So GBP weakens or goes down its pair the USD will logically go up or strengthen.SO:

USD has strengthened or going up so its pair the ZAR has to weaken or go down.

Then there is the Euro as well that has been influenced. And the gold price etc.

But the rand is just weak so it cannot resist anything thrown at it.

 

[HavocXphere]

The rand takes a dive whenever anything happens.

 

[xumwun]

The rand takes a dive whenever anything happens.

Almost as volatile as Bitcoin

 

[wizardofid]

It has recovered remarkably well 15.03 should well below 15.00 by close of business

 

[snoopdoggydog]

So this morning after a Brexit, the Rand drops badly against the dollar but not the pound- Why? It's trading at more or less the same levels as a couple of weeks ago- why?

You are mistaken. The last time the Rand was at these levels against the Pound was 02/05/2016 (look on the graph)

 

[kianm]

The BS never ends