South African motorists are lined up for some relief at the pumps in June, with mid-month data pointing to positive recoveries for petrol and diesel.
South African motorists are lined up for some relief at the pumps next month, with mid-month data from the Central Energy Fund pointing to price cuts across the board.
The local unit was under strain as some investors squirmed at the prospect of the ANC government potentially losing its majority and being forced to partner up with anti-business parties like the EFF or wildcards like Jacob Zuma’s MK Party.The other major factor hitting the rand is the global tone on interest rate cuts, which have been up and down based on sentiment out of the US Federal Reserve.
Today’s all-important US CPI data may create some volatility this afternoon as it provides fresh directional momentum to traders. A hotter-than-expected reading will likely put the rand under pressure.
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