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A Moneyweb commentary argues the rand is undervalued and that its weakness this quarter reflects the strong US dollar more than domestic problems. The piece says the dollar has strengthened about 5% since the start of Q3 and that US rates may rise toward 4%.
The analysis points to continued dollar strength and higher US rates as the main drivers of rand weakness, which keeps South African import costs for feed inputs elevated.
moneyweb.co.zaNolan WapenaarAug 26, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
