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24 Feb 2020 RAND, STOCKS TUMBLE AS CORONA VIRUS ADDS TO BUDGET WORRIES +

South Africa’s rand tumbled more than 1% while stocks plunged to a two-month low as a sharp rise coronavirus cases overseas combined with concerns about the upcoming budget speech knocked down local assets. Peregrine Treasury Solutions’ Treasury Partner, Bianca Botes, says the toll on global growth of the virus outbreak was likely to be larger than initial forecasts, pushing investors out of emerging markets even as they were still on the hunt for yields.

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21 Feb 2020 RAND TAKES A HIT AS BUDGET SPEECH AWAITS +

The rand surrendered a percent against the US dollar in trade on 20 February, as numerous Fed testimonials confirmed that the central bank will not be looking to cut interest rates in 2020 even in light of weakened earnings brought on by the Covid-19 Virus, with the US economy remaining resilient. The dollar index continued its rally, as the greenback remains one of the top performing currencies for the year, placing pressure on the rand as budget jitters start to build, said Bianca Botes, Treasury Partner at Peregrine Treasury Solutions.

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17 Feb 2020 IMPACT ON THE JSE BY THE ASIAN MARKETS +

The JSE could take its lead from firmer Asian markets on Friday morning, with riskier assets still in favour even as the markets consider a sharp rise in coronavirus cases this week. Locally, all eyes were on the state of the nation address this week. The rand remained flat throughout the address, after trading sideways for the most part of Thursday, said Peregrine Treasury Solutions Treasury Partner Bianca Botes.

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20 Jan 2020 RAND WEAKER AS SAA STRUGGLES TO STAY ALOFT +

The rand was weaker against the dollar on Monday morning, with the future of state-owned airline SAA uncertain, and concerns that SA is headed for further credit-ratings downgrades spooking investors. SAA is posing a challenge to the Treasury ahead of this week’s 50th annual World Economic Forum (WEF) meeting in Davos, Switzerland, and the budget in February, Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions, said in a note.

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17 Jan 2020 SA STOCKS HIT NEAR SEVEN MONTH HIGHS +

South African stocks rose to near seven-month highs on Friday, underpinned by gains in heavyweight Richemont and mining firms, while the rand fell against a broadly stronger dollar. Richemont led the Top-40 index higher, surging 5.82% after the world’s second-biggest luxury goods group, reported a 4% rise in third-quarter sales, helped by double-digit growth in China and South Korea.

MONEYWEB

06 Jan 2020 RAND WEAKENS ON WAR TALK +

The first full trading week of the year is likely to be a bumpy one following the killing of a top Iranian commander in a US airstrike at the end of last week, says Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions. As a result, the rand is expected to come under pressure, starting 6 January 2020 on the back foot.

BUSINESSTECH

19 Dec 2019 RAND ERASES 2019 LOSSES ON TRADE OPTIMISM +

SA assets which have spent most of 2019 under pressure from a stagnant economy and prospects of credit downgrades are rising on a wave of optimism driven by the prospect of a trade deal between China and the US. Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions says ‘with low trade activity over the festive period, the recent good news on the Sino-US trade deal continues to assist the rand to maintain its current firm levels against the dollar.’

BUSINESS DAY

13 Dec 2019 RAND HITS FIVE MONTH HIGH ON THE US TRADE DEAL +

The trade war took a turn on 12 December 2019 as the US and China reached an interim deal, sending the rand to its strongest levels against the dollar since July. Across the Atlantic, Boris Johnson’s Conservative party seems likely to have won the UK election with a clear majority, a result favoured by markets and evident in solid support for the pound, said Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions

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29 Nov 2019 RAND FIRMS BUT REMAINS RANGE-BOUND +

South Africa’s rand firmed against the dollar on Friday, but the currency was stuck in a range as investors sought clarity on whether a new US law backing Hong Kong protesters could derail trade negotiations between Washington and Beijing. The focus was on US-China trade developments after the United States backed anti-government protesters in Hong Kong, as well as domestic third-quarter gross domestic product numbers due on Tuesday. “Rand awaits GDP data and global developments,” said Bianca Botes, Peregrine Treasury Solutions Corporate Treasury Manager.

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18 Nov 2019 RAND STRENGTHENS NEAR ANALYSTS’ FORECASTS +

The rand’s firming to R14.69 a dollar on Monday was near analysts’ forecasts. Peregrine Treasury Solutions Corporate Treasury Manager Bianca Botes said the rand benefitted from the slight weakening of the greenback going into Saturday, to hold at around R14.71 a dollar over the weekend.

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