Rand continues up as Europe Falls
The South African Rand has continued to strengthen against the Euro probably due to the debt crisis and investors fears of a recovery in Europe. On 18 June the rand was trading at R10.52 to the Eero and by the very next day it had R.10.41 against the Euro

Greece new democracy coalition

The Greek centre right New Democracy has just a few hours to form a coalition governmenr, many political commentators say the party leader has announced a deal with the Socialist part and smaller democratic left party on wednesday. It is known that the 3 parties differ on the negotiation of the terms of Greeces 174 Billion bailout and the many cuts needed to release further funds.

These condition could be difficult to achive giving the slow deterioration of the Greek economy.

G20 summit in Mexico

The G20 summit in Mexico has ended and there seems to be a marked division between Europe and the rest of the world as to how to solve the Euro debt crisis, most EU leaders are moving to integrate banking sectors while the world leaders want more support from the ECB. France have also been trying to introduce a controversial banking tax.

The French President Hollande has said, [Im hopeful that we can launch attacks on financial transactions quickly and by quicly I mean 2013]

Rand grows

All these factors have to be taken into account for the steady growth seen by the Rand.
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