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At 15:10 GMT, the rand was firmer by 0.15% at 13.2350d / h, after hitting a high of 3.17 in four weeks.
JOHANNESBURG – The rand hit a new high of a month Monday, now a surprise run fueled by an uncertain dollar trajectory and a tidy return for investors looking for high returns outside the markets developed. 19659004] At 15:10 GMT the rand was firmer by 0.15% at 13.2350d / r, after peaking at 4.17 in four weeks, with technical indicators pointing to a bullish momentum ahead of crucial data on oil prices. Inflation and a decision on lending rates later in the week. After crossing the 14.00 mark on June 28th, the rand broke through successive technical resistance barriers and closed on Friday below 13.25, triggering some technical and short purchases, traders being burned by slips in prices. Other EM currencies.
in particular, it benefited from the carry offered by low inflation and relatively high lending rates, which interested investors looking for returns, even though traders expect the trend to reverse in the next days.
According to the 25 economists polled by Reuters last week, the African Reserve Bank is likely to keep its key rates at 6.5%.
"From a technical point of view, stochastic indicators move towards a position of outperformance suggesting that bearish potential moderates bonds have been firmer, with benchmark issuance return in 2026, down 2.0 basis points to 8.71%.
Shares lower than global peers have struggled to maintain a recent recovery in the face The benchmark Top-40 closed down from 1.8% to 49.338 points, while the overall All-Share index lost 1.64% to reach 55.442 points
. Anglo American Platinum closed up 3.5% to 368.09 after to have announced an increase of more than 350% of its profits in the first half, thanks to the improvement of the operational performances and to a more favorable rand basket price for the group tal.
