The South African rand demonstrated a surge this past week, largely influenced by international factors and global market sentiments.
The South African rand demonstrated significant strength this past week, largely influenced by international factors and global market sentiments. The rise in tensions between Israel and Iran, particularly expectations of Iranian retaliation against Israeli airstrikes, initially heightened
. However, these fears subsided later in the week when Iranian officials clarified that no such retaliation would occur, stabilising “risk-off” sentiments. As a result, traditional safe-haven assets like gold and the US Dollar experienced mostly sideways trading.Locally, several key developments also played a crucial role in bolstering the ZAR’s performance. Notably, South Africa’s producer inflation exceeded expectations in the latter part of the week.
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