The rand strengthened against all major currencies over the last week, even pulling back to R14.18 against the US dollar. The JSE announced and implemented its move to T-plus-3 from t-plus-5. Trades will now settle in three days vs the archaic five day turnaround time. US unemployment figures for June came out at 4.9%, slightly weaker than the previous month’s 4.7%. The S&P 500 and Dow Jones indices both hit record highs off the back of the robust rebound after Brexit. Theresa May has been selected as the U.K’s new prime minister. She is the second female prime minister since Margaret Thatcher. More than 80 people have been killed in Nice, France, after a terrorist ploughed a truck through a crowd on Bastille Day.
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The Connected Car | Cannon Asset Managers research