Traders have reduced their expectations of weakness in the currency, with the risk reversal at a two-month low of 2.83% on Tuesday
Traders appear to be holding their nerve ahead of SA’s election on May 8, with the rand having settled into range-bound trade.
Traders have reduced their expectations of weakness in the currency, with the premium on options to sell the rand against the dollar over those to buy, known as the risk reversal, at a two-month low of 2.83% on Tuesday. This is also below the 3.5% it has averaged over the past six months.
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