# South African rand forecast to strengthen further as UBS lowers USD/ZAR target By Investing.com

> UBS revised its rand outlook, forecasting USD/ZAR at 16.0 for Q1 2026 and 15.8 for each of Q2 through Q4 2026. The bank cited elevated precious metal prices, expected Fed rate cuts and domestic reforms.

- Date: 2026-02-18 · published 2026-02-18T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/20875-south-african-rand-forecast-to-strengthen-further-as-ubs-lowers-usd-zar-target
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A bank's currency forecast reflects expectations rather than a new supply or demand event for feed commodities. Its direct price impact is negligible.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- investing.com: https://www.investing.com/news/forex-news/south-african-rand-forecast-to-strengthen-further-as-ubs-lowers-usdzar-target-93CH-4510491

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.