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Rand strength!

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DEP
Super Contributor
What is behind the Rand's strength? Up around 2% today against the majors.
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7 REPLIES 7
DEP
Super Contributor
Any idea why Rand is so strong?
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Not applicable
Probably coz market is expecting bad CPI no. out tomorrow.....hence no letting up in interest rate hikes...hence better for rand. omo
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Not applicable
That's strange - I'dv expected it to be dollar weakness causing that, but the dollar is flying atm. So that indicates significant rand strength!
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scandal
Super Contributor
yep that should mean rand hedge stock should be on the move tomorrow....
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Not applicable
hedge stocks? used to be harmony... what else these days?
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scandal
Super Contributor
look for dollar buyers like PSV (others like electrical equipment suppliers who have tenders with miners eskom etc) who buy in dollars and supply equipment in rands to local markets. It will mean inventory cost is significantly lower more profit.... OMHO
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scandal
Super Contributor
at the moment am favoring GIJ (p.s I am small caps investor long to medium term and only trade the ALSI futures...so my perspective may not favor all)
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