Trade report 04/06/2013
Helped in large by developments overseas the ZAR performed better than expected yesterday. The USD withdrew slightly, platinum and gold prices rallied throughout the day and for the most part emerging market currencies like the rand were able to hold their own. The USD-ZAR is expected to trade at 9.900-10.0500 today.
On Monday US President Barack Obama tried to comfort European allies who were affronted by reports of US spying, but implied that all the world’s top intelligence services were involved in finding out the thinking of not only opponents, but also allies. Following a report in a German magazine that Washington is spying on European countries, the European Union is demanding an explanation and saying that if true, such surveillance was appalling.
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