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Rand News Update │ Rand staying on positive trend

We publish this daily rand news update of the rand to dollar rates and factors which influence foreign exchange markets, to help you make better decisions whether you send money, receive, or want the latest money transfer news.


The South African rand is staying on a positive trend, as it traded marginally below a level of 18.80 by the time of close of yesterday’s session. The predicted trading range for the rand today is between 18.7000 to 19.0000.


The dollar weakened after Federal Reserve Chair Jerome Powell’s comments suggesting rate cuts will only take place later this year. The greenback is trading about 0.1% weaker against a basket of global currencies. Markets will now shift its focus towards the U.S. data releases due tomorrow.


The rand will look for support at 18.87, 18.74 and then a low of 18.65. The resistance levels for the rand are at 18.95, 19.08, following with a high of 19.22.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.8631 versus the dollar.

  • GBP: 24.02

  • Euro: 20.55

  • Gold: 2157 USD

  • Bitcoin: 66 340 USD

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Rand News Update │ Rand weaker at level of 18.70

We publish this daily rand news update of the rand to dollar rates and factors which influence foreign exchange markets, to help you make better decisions whether you send money, receive, or want the

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