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MUFG Bank proposed a long USD/ZAR trade with an entry near 15.500, a target of 16.300 and a stop around 15.000. The analysts argue the rand's strong start to 2022, helped by foreign bond buying, is unlikely to last as broad dollar strength builds.
A reversal in USD/ZAR would raise the cost of rand-denominated imports and South African feed inputs. The call rests on the Fed's hawkish signal pushing up US yields and the dollar.
octaafrica.netJan 28, 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.
