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Rates Reverse/Trade Lower Post FOMC

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June FOMC Instant Answers

USDZAR trades at 2 months high

RAND
Rand continues its retreat in tandem with the Turkish Lira, as the later trades very close to its all time low,.
  • SA Local desk note that despite the pressure in the Rand, rates are holding on to gains, from local interest buyer.
  • USDZAR is fading off the 17.60 mark, as the pair trades at level last seen since the 31st of May.
  • Further out would target the 29/05 high at 17.6649
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