Live Breaking News & Updates on Rates Pressured

January 18, 2021 - Written by John Cameron
Coronavirus concerns continue to dampen the British Pound to South African Rand (GBP/ZAR) exchange rate’s appeal this week, but Brexit jitters have returned to weigh on the Pound as well. Still, the South African Rand’s ability to capitalise on Pound weakness has been limited as well, as market risk-aversion on global coronavirus and political jitters are weighing on the risky emerging market-correlated Rand.
High volatility in both the Pound and South African Rand led to broadly mixed GBP/ZAR movement last week. After opening last week at the level of 20.75, GBP/ZAR bounced higher as the Pound advanced, and GBP/ZAR touched on a 2 month best of 21.09 in the middle of the week. ....

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