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Rand weaker against pound as Brexit stays in spotlight

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Locally, Eskom eased load-shedding fears on Monday saying no power outages were expected on the day

The rand was weaker against the pound on Monday morning as markets awaited more clarity regarding Brexit.

“So far, pound traders are content that a disorderly Brexit will likely be avoided in two weeks. Yet an early general election and maybe another Brexit referendum are on the UK’s political agenda for the coming months,” London Capital Group senior market analyst Ipek Ozkardeskaya said. Locally, Eskom eased load-shedding fears on Monday saying there were no power outages expected on the day and that the probability of load-shedding remained low for the week. The power utility implemented load-shedding to as much as stage 2 last week due to high levels of unplanned breakdowns.

 

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