South African Rand Sliding on Data Out this Week

The South African Rand is sliding against major currencies today, at time of article the Rand slipped to R12.25 to the mighty Green Back. This is a very week on critical data out. Friday undoubtedly holds the greatest risks for the local markets. The US payrolls number will presumably be the biggest market mover, although we also think that the rand has probably not fully reflected the probable Fitch rating downgrade.