Rand reacts to 2019 elections results

Dawie Roodt
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The South African currency, the Rand, is telling economists that the financial markets are happy with the results of the 2019 elections results so far. This is according to Chief Economist at Efficient Group Dawie Roodt who spoke to SABC earlier on Thursday.

“It’s not only the Rand. The cleverest of all markets, as far as I’m concerned, is the Bond market and we’ve seen the Bond market also gaining a couple of points at the moment.”

Now we are seeing a slightly stronger rand, even though it’s still early and a lot can still change.”

The equity market however is another story.

“The equity market is under a lot of pressure on Wednesday. But it’s not because of local conditions or because of elections. It is because of international stuff. It’s because of what Donald Trump is doing. It’s the trade war between the Americans and the Chinese,” Roodt explains.