The South African rand remained stable on Tuesday, September 6, 2022 before GDP data for the 2nd quarter. For its part, the pound sterling is showing signs of life while Truss alludes to a reduction in the energy bill.

The pound sterling appreciated as the media offered new details on how the new Prime Minister Liz Truss plans to tackle the Britain's growing energy crisis. At 8:11am GMT, the pound was up 0.38% to $1.1567, after falling to $1.444 on Monday, following Russia's announcement that it was shutting down one of its main gas supplies to Europe. A fall in the pound sterling below $1.1413 would take it to its lowest level since 1985, according to data from Refinitiv.

The South African rand remained stable in morning trading on Tuesday, ahead of the release of the country's second-quarter gross domestic product (GDP) figures, which could provide clues about health of the economy. At 0630 GMT, the rand was trading at 17.1400 against the dollar, the same level as its previous close, after falling to its lowest level in two years on Monday.