The USDZAR pair was higher on the day as traders await second quarter GDP from South Africa. Investors are nervous that the economy could show deep losses after strict lockdowns and the recent Eskom power cuts. Analyst expectations for the GDP number are for a huge drop of -47.3% from the first quarter. The economy is expected to see a drop of 16.5% on the year. The number will give some insight into the current state of the country’s budget, which some see as unsustainable. The Rand has been supported recently by a rise in inflation to 3.2% in July. South African interest rates have been falling steadily in recent … (full story)
