The onslaught on the Chinese markets continued on Monday with the Shanghai and Shenzhen composites shedding 5.3% and 6.6% respectively, indirectly weakening the South African Rand. Late Sunday night, the ZAR hit R17.99 before pulling back to R17.25 to the US Dollar. USD/ZAR has been trading around R16.60 since. El Nino has directly affected 30 million Africans and has already decreased South African maize output by 30% this year. Barack Obama delivered his final State of the Union speech to his fellow Americans, touching on ISIS, Iran, military, education, health care, unemployment and Republicans.
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Board Member Overlap | Cannon Asset Managers research