South African Rand Firmer This Morning

South African Rand firmer this morning, though looks like more selling is on the cards

The South African Rand opened firmer today as it takes advantage of a weaker US Dollar and is trading 15.12 against the Pound this morning. There is no South African data due today but a plethora out later this week that will ensure more volatile market moves for the beleaguered rand.

Overall, fundamentals are looking increasingly gloomy and no reason to buy South African Rand and it looks like it should side further.

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