FXOne would like to thank Warrick Butler from Standard Bank for his valued contribution to the currency comment this morning. “My IQ test results came back. They were negative.” Current USDZAR level: 16.9250/16.9350 Rand range yesterday: 16.6800-17.2500 and NY close: 16.8350 One would think that Trump has never been guilty of an untruth the way the market reacted to the initial “Iran talks” headline. A brutal and swift 50 cents move in USDZAR was in the offing as the ai Algo systems clambered over their source code to get in front of the market. If you were on the wrong side of that, you will probably be sitting in a risk meeting this morning, however if you were lucky enough, and it would have been pure “vloek”, to be on the right side of that, you could probably hang up your boots for the remainder of the month. It has been quite a month and unlike Trump, I believe still no actual end in sight, as much as he would make us believe. He has seen this spiral way out of control, and it would take a monumental effort on his ego part to pull the world back from the ledge – not something I think he has in him. So, with this in my mind, I am still not going to buy the rhetoric that it will all end in 48hours or 5 days or 5 weeks even. Being circumspect about risk is still the best way to trade this and I continue to buy dips, even if they are 50 cents in the making. Flows have been sporadic with corporates basically covering whatever they need to when they need to. Understandable when there is so much uncertainty around. As luck would have it, I am off to spend a couple of weeks north of the Limpopo and as far away from the noise and blunder. I have squared up most risk but fully expect the Rand to be north of 17.0000 upon my return. At least no missiles will be directed into Bulawayo. Good luck and have a great day and weeks ahead Support levels – 16.8000, 16.62/65, 16.3500, 16.2000, 16.00/15.95, 15.8000 Resistance levels – 16.9400, 17.00/05, 17.2500, 17.3500, 17.5000 | 
