Johannesburg – With many economies still very much on lockdown, it could take months to reach full economic activity, while the risk of a second wave of the virus still remains a real threat.
The rand continues to seesaw between R18.80 and R19.20 to the dollar. further short term downside is also on the table as we near the rebalance of the World Government Bond Index (WGBI) at month-end.
The US is due to release its consumer confidence and wholesale inventory today, while markets will focus their attention on key events later this week. This includes US GDP, and interest rate decisions by the Fed and the ECB.
The rand is currently trading at R18.84 to the dollar.
