JOHANNESBURG - The rand whipsawed lower yesterday amid ongoing power outages across the country according to NKC Research.
Meanwhile, broad-based greenback weakness in anticipation of a market-supportive Fed lifted high yielding and commodity-linked currencies. With the spotlight this week on the FOMC meeting, we expect some guidance pointing towards a rate increase in Q3 2019. At the close of local trade, the rand quoted 0.1 percent weaker at R14.43/$, after trading in range of R14.36/$ - R14.48/$. The rand traded little changed overnight. Expected range today R14.30/$ - R14.50/$.
South African bourse