And the next President of South Africa(?) 18.12.2017
After a marathon vote, recount and some complaints as around 10% of the votes were disqualified, Cyril Ramaphosa narrowly beat Dlamini-Zuma by 2440-2261 votes.
The market anticipation dumping USDZAR from 13.50s early Friday to 12.60 today(lowest since March) played out to be the right one. Ramaphosa is the hope for Sour-African reforms .
If you want to know a bit more about who’s going to move the Rand, here’s the link .
Hope there is:If the market reckons he’s the promised son , it’ll have to take it below 12.30. The upcoming days/weeks will be crucial as he will set out the lines.
Any disillusion will put the USDZAR rapidly back to 13.15/20. It’s but wild to comfortably trade inside the range, but I might have a dabble at the low as once the euphoria of getting rid off the Puma’s will have settled, there’s still a lot to untangle around the Cape of the Good Hope.