| South Africa’s rand weakened in a volatile session yesterday, breaking back above the 7.50/$ mark overnight. The euro dropped below 1.50 against the dollar as well as a report that Dubai’s debt is much bigger than anticipated was also cited as one of the reasons for our local units weakness. I believe the main reason for this volatility is we are going into silly season and with most major players out, and speculators are having some fun forcing currencies in a direction. Most moves from now till mid January will probably not make any sense!
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Nov.27.2009 
