man: eskom is a 100% state-owned company, so the government owns eskom. eskom does support, you know, like, the coal industry. the big portion of our energy generation is based, you know, like, on coal. there's been-- it's called a [indistinct] symbiotic relationship between the coal-mining industry and eskom. let me put it this way: about 70% of the energy requirement in south africa are met through coal. i think, uh, the simple fact is that we've got it, it's in abundance. we still have probably00 more years of coal, you know, like, in the ground. woman: is it immoral to open yet another one in an area like highveld that's clearly got extraordinary levels of pollution on a local level? mashigo: yeah, what you need to realize, as i mention, i mean, on average over the past 10 years, coal production in south africa has remained fairly stable, between 250 and 260 million tons per annum. as in when you open new mines, other mines are closing down. man: coal, for the last hundred years or so, has really powered the economy. it was critical to the industriali

whether the higher inflation that we have seen in some sectors, whether or not it is temporary and work eskome. the suppression of wages, or whether or not it is going to be more permanent. that is what we just cannot fully answer that question now. francine: what is the most interesting currency pair now? looking the euro underportland. euro-dollar is probably an indicator of how sorpt only of these q.e. effects are now. >> i think you're right. if we had to just talk about one thing we would be talking about central bank expectations. we have to stick close with that not just tapering and quantitative easing. we have to think about the short end. the fed's june -- was important for the dollar because it drew attention onto the fed fund rate. that question, that debate. is the fed going to hike into -- a little earlier than we previously thought. that is important for currency markets. is it really going to tell whether that debate has more legs and whether or not the fed could hike earlier than expected. that is really important. particularly for the foreign excheck a market. francine: than