WATCH: Overnight trade sees the rand briefly break below the R14.35/$ mark
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The overnight trade saw the rand briefly break below the R14.35/$ mark, as markets continue to thrive on the trade agreement news according to Bianca Botes, Treasury Partner at Peregrine Treasury Solutions
At the weekend, a White House official announced that a “phase one” trade deal had been completed, although the details still remain elusive.
The United Kingdom will release employment and earnings numbers today, while the European Union is set to release trade balance details. Housing starts, manufacturing and industrial production and Jolts Job openings are due from the United States today.
For buyers of foreign currency, these are excellent levels. However, should the euphoria continue we can even look for a break below the R14.30 mark.
We start the day at R14.40/$, R16.05/€ and R19.13/£.
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