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February 12, 2021 - Written by Toni Johnson Despite today’s UK growth rate report beating forecasts, Britain’s economic data remained broadly concerning and the British Pound to South African Rand (GBP/ZAR) exchange rate remains under pressure as a result. The South African Rand looks like it could sustain much of the impressive gains it saw over the past week, as markets digest the latest State of the Nation Address from South Africa President Cyril Ramaphosa. After opening this week at the level of 20.38, GBP/ZAR briefly attempted to rise, but its bullish movement was short-lived despite the Pound’s generally broad appeal. ....
January 19, 2021 - Written by David Woodsmith While the Pound’s appeal has been a little weaker this week so far, the Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate has been edging higher. As the Canadian Dollar is weighed by a combination of market risk-aversion and weakness in the US Dollar, the currency has been unable to capitalise on recent strength in oil prices. Meanwhile, speculation is rising that Britain’s improving longer term outlook could cause some Pound advances soon. Since opening this week at the level of 1.7300, GBP/CAD has been trending with a largely upside bias. GBP/CAD is trending around a third of a cent above the week’s opening levels in the region of 1.7338 at the time of writing. ....
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. ....