Rand struggles as strikes worry the markets

Elsewhere, the Swedish krona was the standout performer yesterday as inflation figures throughout December came in higher-than-forecast, reducing the possibility that the Swedish central bank may look to cut interest rates in coming months. Following on from Monday, the South African rand continued to struggle yesterday, dropping to 5-year lows. Labour disputes at the world’s three biggest platinum producers has triggered concern in the market, and with platinum being a significant South African export commodity, the situation could severely dent the nation’s output. After fairly positive starts to the week, both the Australian and Canadian dollar struggled yesterday. A quiet day on the data front today means that markets will be susceptible to other factors. Get in touch with your trader for a live rate.