Foreign investors back with a bang!
Commentary by Niel Lubbe
The rand strengthened yesterday as foreign investors returned to SA’s bond market (pumping in nearly R2b).
The local unit opens at 13.15/$, but could lose some ground this morning after the latest terror attack in Paris overnight, as investors seek less risky assets. Something to keep your eye on: EUR/ZAR volatility will be high leading up to the French elections this weekend (especially Monday morning, as results start coming in). Not much news locally, but German manufacturing, UK retail sales and US homes sales data is out later today. Have a great weekend!