Moving away from the Pound in the late 50's to early 60's, the Rand was established and is the current legal tender for South Africa, Swaziland, Lesotho and Namibia. The Rand has had its fair share of volatility with the currency depreciating massively following the apartheid era sanctions. The currency looks to benefit when investors are willing to take on more risk in developing countries. Any pullback in risk from global markets pushes the Rand significantly lower as seen during the financial crisis of 2008.
The Japanese Yen responded to a key technical barrier last week with and leaves the bears vulnerable early in the month. Get your $USDJPY technical analysis from @MBForex here: https://t.co/ijElJvmHyn https://t.co/Xv7pVMQ6h4
Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule:
Oil - US Crude: 0.33%
View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gpka4HBCay
IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.03%, while traders in US 500 are at opposite extremes with 76.79%.
See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FfFR6kxBCO
Ahead of the RBNZ rate decision next week, the New Zealand Dollar has struggled to climb higher against its major counterparts, with the exception of the US Dollar. Get your market update from @JMcQueenFX here:https://t.co/iZxV2qSVrw https://t.co/CGE3WeJ3Yl
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