South African Rand Trades At Near 3-year High Versus U.S. Dollar
15 Februar 2018 - 9:22AM
RTTF2
The South African Rand spiked up against the U.S. dollar in the
European session on Thursday, as investors cheered resignation of
President Jacob Zuma overnight, following the ANC's ultimatium to
leave office.
Zuma's resignation came ahead of a motion of no confidence in
the National Assembly on Thursday, at which he would have been
unable to survive.
The embattled leader, who had been accused of corruption,
tendered resignation three days after the ANC's national leadership
decided at a meeting to ask him to quit.
The South African Rand advanced to near a 3-year high of 11.5994
versus the greenback, compared to Wednesday's closing value of
11.7077. If the Rand extends rise, 11.00 is likely seen as its next
resistance level.
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