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Expect rough ride for Rand, but sit tight - expert | Sable International

Nov 14, 2016
A more pressing concern for the rand is the euro as there is far more volatility possible for the rand arising out of the European market than from Donald Trump’s ascension to power, according to Andrew Rissik, MD of Sable Forex. These European factors include what he terms the inherent weaknesses and flaws in the euro and Brexit.

"We should rather be looking at the euro, which is in jeopardy in the long term – a common currency linked to a multiple tax system involving countries with wide discrepancies in wealth and governance isn’t sustainable," said Rissik.

“Donald Trump’s victory is bad for the rand in the short term, but the currency will rebound. Although the rand has weakened the most in five years, as global currencies decline against the dollar in the wake of Trump’s victory, it’s not time to panic and jump ship."

Read the full article on Fin 24.

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