The rand comfortably down to the R14.26 mark against the US dollar. The Bank of Japan announced yesterday that it would keep its monetary policy steady leaving interest rates at -0.1%. This disappointed those who were hoping for stimulus with the Nikkei 225 closing 3.61 percent down after the news broke. The Yen rose sharply against the Dollar after the announcement. Oil has also reacted sharply against the weakening US dollar over the last week with Brent crude rising to $48.14 a barrel. Apple’s Q2 earnings disappointed, with revenues and unit sales down across the board. News also recently broke that hedge fund giant, Carl Icahn, sold his 45.8 million shares in Apple in February 2016, due to worries in Apple’s China business. Petrol prices in South Africa set to rise by 12 cents a litre in May 2016.
Read more in the document below: