Jumpy rand rocks the green­back

But doesn’t do as well against the euro, show­ing pos­si­ble long-term weak­ness

Finweek English Edition - - Advertising & Marketing - COLIN ABRAMS

THE RAND HAS – in typ­i­cal fash­ion – done the un­ex­pected by strength­en­ing sharply against the US dol­lar. That’s left many mar­ket watch­ers baf­fled, be­cause the fun­da­men­tals ap­par­ently don’t jus­tify such a strong rand. How­ever, from a tech­ni­cal point of view we look at what the rand’s chart says against the two main in­ter­na­tional cur­ren­cies: the US dol­lar and the euro. The US$/rand chart points to more rand strength to come over the short term, while the euro/rand is cur­rently test­ing im­por­tant sup­port. Please note: For more tech­ni­cal anal­y­sis by the au­thor on shares, in­dices and com­modi­ties please go to www.the­mar­ket.co.za.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.