Rand eyes R13/$ as EM sentiment turns positive

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Cape Town - The rand, together with other emerging market currencies, has been firmly on the front foot, with the local unit strengthening 2% against the greenback.

By 15:52 the local unit was trading 1.7% firmer against the US dollar at R13.09 after touching a high of R13.07 earlier in the session.

"A break here could see the ZAR potentially test R13.00," said TreasuryOne's Wichard Cilliers.

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USD/ZAR
14.05
0.0%
GBP/ZAR
19.67
0.0%
EUR/ZAR
17.10
0.0%
AUD/ZAR
11.03
0.0%
JPY/ZAR
0.13
0.0%
Gold
1,831.32
0.0%
Silver
27.45
0.0%
Palladium
2,929.64
0.0%
Platinum
1,256.50
0.0%
Brent Crude
68.28
+0.3%
Top 40
62,573
+1.4%
All Share
68,520
+1.4%
Resource 10
71,474
+2.1%
Industrial 25
86,856
+0.9%
Financial 15
12,711
+1.1%
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