Last year was one of the most tumultuous we have seen from an economic, political and social point of view. But amidst all this gloomy background, there emerged an unlikely hero - the rand, writes James Paynter, head analyst at Dynamic Outcomes, a specialist forex solutions company, in this week’s FTW Online ‘Informed Insights’ column.
He points out that after being pummelled in each of the prior five years, the rand ended the year with its head held high, having gained 11.2% against the US dollar (even more against the pound), and in so doing being named the 5th best performing currency against the dollar for 2016 – after Russia, Brazil, Iceland, and Zambia.
“It was also the rand’s 6th best performance over the past 35 years,” comments Paynter.
But what surprises lie in store for 2017? Paynter shares three trade secrets to help traders avoid getting hurt by unexpected currency fluctuations.
