March 11, 2021 - Written by Ben Hughes
Despite broad optimism that Britain’s economy will gain momentum, the British Pound to South African Rand (GBP/ZAR) exchange rate has been tumbling from its best levels this week. As the South African Rand is bolstered by global sentiment it continues to climb strongly today, and markets now await tomorrows slew of UK data and South African business confidence stats which could still cause a late-week shift in movement.
Last week saw GBP/ZAR open the week at the level of 21.05 and dip, before ultimately advancing and closing the week higher in the region of 21.26.