During the whole Brexit fiasco the Rand held up surprisingly well, losing very little against the US Dollar.
As Soon as the initial panic ended it made it all back in three days! Compare this with other countries through out the world where a rout took place as if a comet was threatening the world.
The reason was that longer term mutual funds, large conglomerates and longer term traders are looking to receive a better returns on their investments. Most first world investments such as bonds are now in negative territory ,so large investments are losing money.
First our bonds were in demand again and large cash flows are coming in. Our bonds are still around 7% positive.
Now our mining shares are starting to take off as modest demand to return and risk on investments are coming into vogue again.
ALSO
1.The British Commonwealth will in the long run be better off ,as will British relations with those countries as the European grouping have been urging Britain to cut favourable trade deals to its former empire! South Africa is also a member of the commonwealth.
2. The reason for the no vote winning was the European Union showing little resolution to curb illegal immigration, which any thinking person could see would lead to WORK BECOMING VERY SCARCE AND COUNTRIES STRUGGLING WITH MONIES TO PROVIDE SOCIAL SERVICES FOR THEIR OWN POPULATIONS ,LET ALONE ILLEGAL FOREIGNERS !
