When I speak to investors overseas; they’re almost ignoring the political noise. All emerging markets have political issues!— Greg Kennelly, Rand Merchant Bank
The rand has powered to levels not seen since August 2015 after the US Fed announced an interest rate hike.
Following the Fed announcement, the rand was trading at R12.72.
Most economists expect two more US rate hikes this year.
At 5:15pm the rand was trading at R12.73.
The Money Show’s Bruce Whitfield interviewed Rand Merchant Bank Currency Trader Greg Kennelly.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
Everyone anticipated the Fed hike.— Greg Kennelly, Rand Merchant Bank
Yellen came out more dovish than expected.— Greg Kennelly, Rand Merchant Bank
South Africa is a good investment.— Greg Kennelly, Rand Merchant Bank
The South African Reserve Bank won’t be aggressive in cutting.— Greg Kennelly, Rand Merchant Bank
I’m very bullish on South Africa!— Greg Kennelly, Rand Merchant Bank
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