SOUTH AFRICAN RAND / U.S. DOLLARPembelian
Zar strong bullish correlation
The zar has a strong correlation with both RIO and BHP two large gold mining companies with major assets in SA. Both of these companies have strong bullish trading symbols as gold is becoming more of a buy as the dollar weakens (gold is a safe haven for dollar holders).The USD is dropping surrounding a lot of political turmoil and uncertainty in the US along with other factors. People are jumping into gold as a safe haven. This is double reinforcement on the upward movement of the ZAR.
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