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Another Downgrade…………………..

Another downgrade
10 April 2017
Commentary by Justin Lodewyk
Credit ratings agency Fitch joined Standard and Poor’s decision to downgrade South Africa’s investment credit rating on Friday. Markets had little to no reaction on the news, partly because the downgrade was widely expected. The local unit opens at 13.84/$, trading between 13.72/$ and 14/$ range. Event risk is low today, as markets keep one eye on the political situation is SA. Huge congratulations to Spaniard Sergio Garcia on winning the Masters down at AugustaDaigon Clearing Agent