Rand under pressure, impacted by a stronger dollar
Compiled by Dhivana Rajgopaul
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After gaining over 20 percent this year, gold is on track for its worst week in over a month, as the dollar continues to claw back some of its recently lost ground according to Bianca Botes, Executive Director at Peregrine Treasury Solutions.
The strong dollar saw the rand come under additional pressure, trading to a low of R17.20/$ while South Africa celebrated Heritage Day, although the unit subsequently recovered lost ground to trade below R17.
We have yet another slow day in the data calendar, with the United Kingdom quarterly bulletin and United States durable goods due for release today.
The rand start the day at R16.92/$, R19.74/€ and R21.57/£.
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