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Could Dovish SARB Encourage GBP ZAR Rally?

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Date: July 18th, 2017.

South African manufacturing production continued to underperform in May, with output still contracting on both the month and the year. This underlined the muted outlook of the domestic economy, even as concerns over the proposed nationalisation of the South African Reserve Bank (SARB) eased. Coupled with a general increase in market risk aversion, spurred by [...]

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GBP/ZAR rallied by 0.7% on Tuesday as the Pound firmed on Bank of England (BoE) hopes while the Rand suffered from a selloff in emerging market currencies. GBP/ZAR briefly touched a high of 17.57 on Tuesday morning, its best level in over two months. After a bit of a lull at the beginning of the [...]

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In spite of a lack of particularly supportive UK data the GBP ZAR exchange rate rallied sharply during the last week. This was largely thanks to comments from Bank of England (BoE) Governor Mark Carney which markets interpreted to be more hawkish in tone. Carney’s note that he would be willing to vote for an [...]

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The Pound dropped -0.5% against the Rand on Monday but could bounce back if the government makes a long-awaited announcement. Sterling exchange rates have been putting in a mixed performance since markets reopened after the weekend, with the Pound struggling against the Rand but gaining on the US Dollar and Euro. GBP fluctuations have been [...]

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Worries over South Africa’s economic outlook have continued to pressure the Rand, with the second quarter business confidence index plunging sharply. The index dipped from 40 to 29 as domestic sentiment continued to deteriorate. Signs of instability and infighting within the ruling African National Congress (ANC) are keeping business in a more pessimistic mood, particularly [...]

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The Pound to South African Rand exchange rate plunged this week as the emerging market Rand benefited from the political jitters afflicting Sterling. GBP/ZAR hit a two-month-low on Tuesday morning before rebounding from its worst levels. Sterling trade has been jittery since the results of the UK general election last week as uncertainty clouds Britain’s [...]

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South Africa’s trade surplus was found to have narrowed further than forecast in April, prompting investors to sell out of the Rand on Wednesday. Although the country maintained a solid surplus of 5.1 billion this was not enough to ease market worries over the future of the domestic economy. As a result, with market risk [...]

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The Pound South African Rand exchange rate slumped to a three-week low of 16.4267 last week after a run of poor UK data and disconcerting election polls. Last Thursday saw a second approximation of the UK’s first-quarter GDP released, with growth unexpectedly being revised down from 0.3% to 0.2%. Considering the first estimate of 0.3% [...]

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The Pound to South African Rand exchange rate briefly dipped on Monday but by Tuesday was trending near the week’s opening levels of 17.25. Jitters about Britain’s upcoming general election faded slightly and demand for emerging-market currencies has been mixed, allowing the pair to hold its ground. Monday saw the Pound drop against the South [...]

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Last Friday South African mining production unexpectedly jumped 15.5% on the year in March, boosting the appeal of the Rand. As there was also a modest uptick in manufacturing production this encouraged hopes that the economy is in an improving state of health in spite of ongoing political jitters. This put some pressure on the [...]

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