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Much as the shilling is seen broadly steady supported by hard currency inflows from both commodity exporters and charity organizations, it’s also being threatened by month end demand mainly from manufacturing and energy firms preparing to buy dollars in order to stock raw material for next month.
South Africa’s rand plunged nearly 3% on reports that Finance Minister Pravin Gordhan had been ordered to report to a special police unit by the end of the week. The rand sank to a three-week low before recovering slightly. At 1715 GMT, it was 2.5 % lower at 13.9200 per dollar, its weakest since Aug. […]
The selling pressure behind the GBP/USD pair remains intact as we head into early Europe, with the bears (downward pressure) now awaiting fresh impetus for the next push lower. The cable faces double whammy from a broadly higher US dollar on one hand, while resumption of decline in the oil prices weighs on the pound […]