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HSBC analysts said on December 17 there is no fundamental reason for further rand weakness, noting the rand had rallied for three straight days after the Fed decision. USD/ZAR was near the bottom of its 15.70 to 16.36 December range.
HSBC estimates suggest the currency is roughly fairly valued.
A stabilising rand reduces pressure on the cost of dollar-priced feed imports into South Africa. The forecast points to a limited further rise in the dollar against the rand.
poundsterlinglive.comJames Skinner, additional contributions by Gary HowesDec 17, 2021Not 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.
