Cabinet choices will test rand rally
The GNU has got very promising signs of working but sentiment could be swayed by the composition of the economic cluster particularly
23 June 2024 - 09:22
As the rand continued its upward trajectory, closing the week at R17.97 firmer against the dollar, market watchers warned that the positive sentiment is still fragile and could be swayed by the announcement of the cabinet formed under the government of national unity (GNU).
The rand has been volatile in the past few months leading up to the elections due to investor uncertainty. However, this week it broke through the R18 barrier against the dollar for the first time in 10 months on news of the GNU formed by the ANC, DA, IFP and other smaller parties. ..
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