With expectations that the Bank of England (BoE) will cut interest rates this week the Pound to rand exchange rate has remained generally under pressure. Stronger South African Industrial Production figures suggested that the domestic economy was not as under pressure as markets had feared. Nevertheless, with the Pound on bullish form ahead of Theresa May’s appointment as Prime Minister there was no real opportunity for the Rand to make any gains on Tuesday morning. With the Conservative leadership contest coming to an abrupt halt with the surprise withdrawal of Andrea Leadsom the Pound was shored up further against rivals. The prospect of Theresa May becoming Prime Minister imminently helped to ease the sense of uncertainty still pervading markets, offering some reassurance that negotiations with the EU could be underway sooner rather than later. In spite of a particularly weak post-Brexit GFK Consumer Confidence Index the Pound (GBP) maintained some measure of optimism ahead of the weekend. Investors were encouraged by a smaller-than-expected narrowing of the UK trade deficit for May, even though the fallout of the EU referendum is likely to have a significant negative impact on the measure in the coming months. However, the Pound to South African Rand (GBP/ZAR) exchange rate slumped in the wake of the latest US Non-Farm Payrolls report, as weaker wage growth prompted fresh US Dollar (USD) weakness and heightened demand for higher-yielding assets. Latest South African Rand Exchange Rates On Tuesday the Pound to South African Rand exchange rate (GBP/ZAR) converts at 18.834 The ZAR to GBP exchange rate converts at 0.053 today. FX markets see the south african rand vs euro exchange rate converting at 0.063. FX markets see the south african rand vs us dollar exchange rate converting at 0.07.

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