Rand strong before weakening
And British pound is now being tested
FOR MANY, the most interesting development over the holiday season was the strength of the rand against the US dollar. It’s now reaching its minimum target (shown in this column early in December). The question is where to from here? We update the rand’s chart as well as that of the British pound/rand. The rand is now testing a multi-year resistance level against the pound. But both charts point to more rand strength before a prolonged phase of weakness again.