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Credit Suisse lowered its forecasts for the South African rand, arguing that upside is limited as the current account surplus narrows and repatriation flows and carry support fade. The rand had been one of the best performers among G10 and developing-market currencies this year, supported by commodity exports.
Credit Suisse also cited improved fiscal sentiment.
A weaker rand outlook raises the expected cost of imported feed ingredients for South African buyers. The forecast is a currency view rather than a direct commodity driver.
poundsterlinglive.comGary HowesApr 21, 2022Not enough comparable past events yet for a historical read.
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.
